Abu Dhabi – Mubasher: The board members of Alpha Dhabi Holding approved an offer from the National Corporation for Tourism and Hotels (NCTH) to acquire the entire shareholding of some of its business units.

NCTH plans to own Hill View Resorts in Seychelles, Murban (BVI) Holding Inc., and ADH Hospitality, according to a bourse statement.

Meanwhile, NCTH will finance the acquisition by issuing new shares to Alpha Dhabi’s subsidiaries, Alpha Dhabi Hospitality Holding and Murban Energy, which own the target companies.

Financials for 2023

NCTH logged net profits valued at AED 68.08 million in 2023, an annual growth from AED 63.97 million.

Basic and diluted earnings per share (EPS) hit AED 0.08 last year, higher than AED 0.07 in 2022.

The company registered revenues amounting to AED 669.20 million as of 31 December 2023, down year-on-year (YoY) from AED 710.59 million.

As for Alpha Dhabi, the company’s net profits jumped by 25% YoY to AED 13.28 billion in 2023 from AED 10.60 billion.