Today's Edition
ABU DHABI (ALETIHAD)
Multiply Group said its Board has approved a proposal to acquire 2PointZero and Ghitha Holding through a share-swap transaction, in a move the company said is intended to build scale, enhance portfolio synergies and drive long-term value.
The company added that the proposed deal represents a consolidation of assets within the IHC ecosystem. The transaction remains subject to shareholder and regulatory approvals, according to a company statement and a filing to the Abu Dhabi Securities Exchange.
Under the proposed terms, Multiply would issue approximately 23.36 billion new shares, increasing its share capital from Dh 2.8 billion to Dh 8.64 billion. Upon completion, the merged entity would comprise 34.56 billion shares, the company said.
Details in the ADX filing show Multiply plans to acquire all the shares held by IHC Food Holding LLC and IHC Companies Management LLC in Ghitha Holding PJSC by issuing 1,765,936,964 new shares to those IHC entities, and to acquire Two Point Zero Holding RSC Limited by issuing 21,597,689,333 new shares to 2PointZero’s shareholders. In aggregate, Multiply would issue 23,363,626,297 new shares.
The Board also recommended changing the company’s trade name to “Two Point Zero Group P.J.S.C.”, increasing the Board size from five to nine directors, authorising the Group CEO and Managing Director to sign the SPA, and calling a general assembly on November 10, 2025 to vote on the intended transaction.
Multiply described 2PointZero as a transformational investment company with scalable assets in energy, mining and financial services, serving as an AI enabler and energy-transition accelerator, while Ghitha Holding spans agriculture, food production and distribution, playing a role in food security. Bringing them together is expected to enhance operational and investment efficiency by consolidating complementary assets on a single listed platform.
“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,” said Syed Basar Shueb, Chairman of Multiply Group. “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.”
“This strategic merger is more than a consolidation of balance sheets – it’s the convergence of vision, purpose, capital, megathemes, and exceptional teams,” said Samia Bouazza, Group CEO and Managing Director.
“Together, we are forming a Dh 120 billion balanced and diversified investment group spanning energy, food, logistics, packaging, mining, apparel, media, mobility and beauty. Our focus is to grow our bottom line both organically and inorganically, to unlock value through AI, and to deliver consistent, long-term returns for our shareholders.”
