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Abu Dhabi National Hotels announces equity acquisition in MFive Services

Abu Dhabi National Hotels announces equity acquisition in MFive Services
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Abu Dhabi – Mubasher: Abu Dhabi National Hotels Company has acquired 50% stake in MFive Cleaning Services LCC (MFive Services), according to a bourse disclosure.

Abu Dhabi National Hotels noted that MFive Services is a company registered in the UAE and specialised in housekeeping and cleaning services.

The listed firm did not disclose further details about the equity acquisition transaction nor its value.

It is worth mentioning that during the first nine months (9M) of 2023, Abu Dhabi National Hotels generated net profits worth AED 288.91 million, which marked a decline from AED 291.75 million in the same period a year earlier.