UAE investor with $540m in cash says M&A spree not over

UAE investor with $540m in cash says M&A spree not over

International Holdings Company (IHC), which has quickly become the United Arab Emirates' fourth-most-valuable listed company, isn't done yet with a rapid-fire acquisition spree.

Through a flurry of M&A that started last year, the Abu Dhabi-based company has amassed a portfolio spanning real estate to utilities and health care to food services. The shares have soared more than 500 per cent in 2020, giving IHC a market capitalisation of about $19bn.

"We are talking to some existing solar facilities to acquire them and are currently in conversations to invest in a large solar plant in Europe,“ Syed Basar Shueb, the company's chief executive officer and managing director, told Bloomberg in an interview.

IHC has about Dhs2bn ($540m) in cash for acquisitions, and is in advanced talks for a deal involving