Abu Dhabi - Mubasher: The board of Multiply Group has approved the acquisition of 2PointZero and Ghitha Holding through a share swap deal, according to a press release.

The proposed transaction aligns with Multiply Group’s strategy to scale its business, enhance portfolio synergies, and drive long-term value.

Subject to the regulatory approvals, Multiply Group will issue about 23.36 billion new shares, raising its share capital to AED 8.64 billion from AED 2.80 billion.

Upon completion, the merger will create an entity with 34.56 billion shares. Meanwhile, the transaction remains subject to shareholder and regulatory approvals.

Syed Basar Shueb, Chairman of Multiply Group, commented: “This transaction represents a natural evolution of our portfolio strategy, designed to optimize 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,” the Chairman added.

Samia Bouazza, Group CEO and Managing Director of Multiply Group, stated: “This strategic merger is more than a consolidation of balance sheets, it’s the convergence of vision, purpose, capital, mega themes, and exceptional teams.”

He emphasized: “Together, we are forming an AED 120 billion balanced and diversified investment group spanning energy, food, logistics, packaging, mining, apparel, media, mobility and beauty.”

“Through these companies, spread across 85 countries, we aim to serve 1 billion human beings, globally,” the CEO concluded.

2PointZero brings assets across energy, mining, and financial services, serving as an AI enabler and energy transition accelerator.

On the other hand, Ghitha Holding contributes a diversified food and agriculture platform.

Earlier this month, Multiply Group announced plans to acquire a 60.8% stake in ISEM, a leading European packaging group.