Abu Dhabi’s IHC completes 45% stake purchase in Alpha Dhabi Holding

Abu Dhabi’s IHC completes 45% stake purchase in Alpha Dhabi Holding

Abu Dhabi-based International Holding Company (IHC) said it completed a 45 per cent stake purchase in Alpha Dhabi Holding (ADH), a growing real estate and construction sector focused company.

No value for the transaction, which comes after IHC's board meeting disclosure on March 4, 2021, was provided.

"The acquisition of a substantial stake in Alpha Dhabi Holding will add a significant scale to IHC," Syed Basar Shueb, IHC's chief executive, said in a statement to the Abu Dhabi Securities Exchange, where the company's shares trade.

"The move will increase and diversify our investment vertical, as we continually seek strategic partnerships with local