HomeBanking & FinanceAlpha Dhabi acquires 25% of Gordon Technologies for AED 602 mn
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November 2, 2022 6:12 pm

Alpha Dhabi acquires 25% of Gordon Technologies for AED 602 mn

Move will support the firm in its expansion plans across ME
Alpha Dhabi Holding
Alpha Dhabi Holding (Image credit: ADH)

UAE’s investment holding company Alpha Dhabi Holding (ADH) announces the acquisition of a 25% stake in oil and gas engineering firm Gordon Technologies for 602 million dirhams. Chimera Capital acted as the sole financial advisor to ADH on the transaction.

Read more: Alpha Dhabi Holding registers record results in 6 months

ADH will support Gordon Technologies in its geographic expansion plans with one key focus being the Middle East market as it looks to build on the strong performance and track record of growth that the existing ownership team has witnessed to date.

The transaction closely aligns with ADH’s long-term investment and expansion strategy to expand into international markets and diversify its growing portfolio across its core and complementary verticals in order to achieve growth and deliver strong returns.

In June, ADH increased its stake in Aldar Properties, becoming its largest shareholder and parent company.