National Corporation for Tourism and Hotels completed the acquisition of Alpha Dhabi Hospitality Holding LLC , Murban Energy Limited and Hill View Resorts Limited from Alpha Dhabi Holding PJSC for AED 4.26 billion.
National Corporation for Tourism and Hotels (ADX:NCTH) agreed to acquire Alpha Dhabi Hospitality Holding LLC and Murban Energy Limited and Hill View Resorts (Seychelles) Limited from Alpha Dhabi Holding PJSC (ADX:ALPHADHABI) on March 11, 2024. As part of the consideration, National Corporation for Tourism and Hotels will issue new ordinary shares to Alpha Dhabi Holding. On July 10, 2024, shareholders of National Corporation for Tourism and Hotels has approved the deal.
The transaction is expected to close by the end of 2024.
National Corporation for Tourism and Hotels (ADX:NCTH) completed the acquisition of Alpha Dhabi Hospitality Holding LLC and Murban Energy Limited and Hill View Resorts (Seychelles) Limited from Alpha Dhabi Holding PJSC (ADX:ALPHADHABI) for AED 4.26 billion on January 6, 2025. As a result of this transaction, Alpha Dhabi Hospitality Holding LLC (?ADHH?) received 1,277,907,257 shares of NCTH securing 58.70% stake in NCTH. The primary reasons for the business combination include: (i) Strategic consolidation of Alpha Dhabi's hospitality assets under NCTH. (ii) Leveraging potential operational efficiencies and synergies. (iii) Utilizing NCTH's listed platform for future growth and value creation. (iv) Strengthening the market position of the combined hospitality portfolio. As of January 29, 2025, Alpha Dhabi Holding PJSC, became Majority Shareholder of National Corporation for Tourism and Hotels through acquiring a strategic controlling 73.73% interest in the National Corporation for Tourism and Hotels, after selling assets from Alpha Dhabi Hospitality Holding LLC (ADHH) and Murban Energy Limited to NCTH in exchange for shares.
Alpha Dhabi Holding PJSC is a United Arab Emirates-based conglomerate engaged in multiple business sectors. The Company is organized into four business segments: The Industrial income, which provide dredging and associated land reclamation works. The Construction and real estate, which provides contraction work relating to commercial and residential buildings, infrastructure development and civil construction works and rental income from properties. The Health care provides medical laboratory management services, residency visa testing and laboratory diagnostics distribution. The Services, other and unallocated which comprise management services, hotel room rental income and from related ancillary activities and investment and Islamic finance income. The Company’s subsidiaries include Murban Energy Limited, Mawarid Holding Investment L.L.C, and Pure Health Medical, among others.
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National Corporation for Tourism and Hotels completed the acquisition of Alpha Dhabi Hospitality Holding LLC , Murban Energy Limited and Hill View Resorts Limited from Alpha Dhabi Holding PJSC for AED 4.26 billion.
