The acquisition aims to strengthen the strategic cooperation between the two parties in identifying, developing, establishing and managing various industrial projects in the UAE and in the Middle East region.
Following this, Mr. Mahmood Ibrahim Al Mahmood, CEO of Al Qudra Holding, announced that this "marks the first step towards a long-term joint cooperation between Al Qudra Holding and ADNIP which aims to pioneer the industrial development in the UAE and the region at large. This is made possible by leveraging on the vast experience and expertise of the two companies combined to benefit our investors and ultimately, the national economy".
H.E. Mohammed Bin Joan Al Badie, Chairman of ADNIP, added that the apparent decision of the shareholders in introducing strategic partners aims at strengthening ADNIP's competitive position in the market and enabling the company to expand and develop mega industrial projects in the UAE, which will be announced in the due time.
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Al Qudra Holding acquires 12.43% of Abu Dhabi National Industrial Projects' shares
- United Arab Emirates: Tuesday, April 29 - 2008 at 13:21
- PRESS RELEASE
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Al Qudra Holding, one of the largest investment companies in the UAE, has recently entered into an agreement to acquire 12.43% of Abu Dhabi National Industrial Projects' (ADNIP) shares.
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Posted by Eman HassanTuesday, April 29 - 2008 at 13:21 UAE local time (GMT+4)
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