Multiply Group Announces Strategic Acquisition Of 2PointZero And Ghitha Holding Through Share Swap

Multiply Group, an investment holding company based in Abu Dhabi, has announced its Board's approval for acquiring 2PointZero and Ghitha Holding through a share swap. This proposal involves offering shares to acquire the two companies and issuing new shares to finalise the deal. The transaction is currently under review and awaits necessary approvals from shareholders and regulatory bodies.

The acquisition aims to consolidate Multiply Group’s portfolio by bringing together complementary assets under one listed platform. This move is expected to boost operational and investment efficiency across the group. The transaction will involve issuing approximately 23.36 billion new shares, raising Multiply Group’s share capital from AED2.8 billion to AED8.64 billion, resulting in a total of 34.56 billion shares post-merger.

Syed Basar Shueb, Chairman of Multiply Group, stated, "This transaction represents a natural evolution of our portfolio strategy, designed to optimise scale and strengthen the platforms we have built over the past years. Multiply’s offer to acquire 2PointZero and Ghitha reflects our strategic approach to value creation and our long-term focus on building globally competitive investment entities that deliver sustainable shareholder value."

Samia Bouazza, CEO and Managing Director of Multiply Group, highlighted the broader impact of this merger: "This strategic merger is more than a consolidation of balance sheets – it’s the convergence of vision, purpose, capital, megathemes, and exceptional teams. Together, we are forming an AED120 billion balanced and diversified investment group spanning energy, food, logistics, packaging, mining, apparel, media, mobility and beauty."

2PointZero is known for its scalable assets in energy, mining, and financial services sectors. It acts as an AI enabler and energy transition accelerator aiming for a smarter future. Meanwhile, Ghitha Holding operates across agriculture, food production, and distribution sectors crucial for food security. These businesses bring together strengths in energy and consumer sectors vital for economic growth.

The merger aims to serve a global audience by leveraging these strengths across 85 countries with a target to reach 1 billion people worldwide. The focus will be on both organic growth and acquisitions to unlock value through AI while ensuring consistent returns for shareholders.

Approval Process and Future Outlook

This strategic reorganisation remains subject to shareholder and regulatory approvals. Further details will be shared once the review process concludes. The merger represents a significant expansion of Multiply Group's capital base as it positions itself as a major player in various industries globally.

The integration of these companies into Multiply Group is expected to drive progress towards cleaner systems while enhancing everyday life through advanced technologies.

With inputs from WAM