Abu Dhabi conglomerate International Holding Co is considering acquisitions worth a few billion dollars in total across several sectors, including a real estate developer in Abu Dhabi, its chief executive Syed Basar Shueb told Reuters.
An Emirati man wears a protective mask as he walks past buildings in Abu Dhabi, United Arab Emirates September 1, 2020. REUTERS/Nir Elias/Poolis considering acquisitions worth a few billion dollars in total across several sectors, including a real estate developer in Abu Dhabi, its chief executive Syed Basar Shueb told Reuters.
Shueb also said the tightly held conglomerate, active in sectors from food to leisure, is close to acquiring a second-tier Abu Dhabi property developer, which would add to its indirect minority stake in Aldar Properties"All the sectors across the nine verticals we are operating , we are looking for an acquisition," Shueb said. "There are a few billion dollars of acquisitions we are looking at.
Shueb said the new deals will be funded by bank loans for the first time, while next year the firm plans to issue debut bonds, which would help it secure a credit rating for more transparency. Shueb said IHC plans to list six companies this year in total, giving domestic investors more opportunities in the Abu Dhabi market.
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