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Craving More, #AbuDhabi’s New Wealth Fund Can’t Move Fast Enough - Bloomberg

Craving More, Abu Dhabi’s New Wealth Fund Can’t Move Fast Enough - Bloomberg Less than two years into frenetic dealmaking that reeled in a haul from pharmaceuticals to agricultural trading, Mohamed Hassan Alsuwaidi’s biggest worry is if he’s moving “fast enough.”The sense of urgency may seem surprising from the chief executive of Abu Dhabi’s newest sovereign fund, ADQ, which amassed an estimated $110 billion in assets since being founded in 2018, including a 45% stake in Louis Dreyfus Company ...
Tags: Travel, Bloomberg, Abu Dhabi, Rupert Neil Bumfrey, ADQ, Louis Dreyfus Company BV, Mohamed Hassan Alsuwaidi, Alsuwaidi


#AbuDhabi Ports Sees More Debt Sales for Growth After First Bond - Bloomberg

Abu Dhabi Ports Sees More Debt Sales for Growth After First Bond - Bloomberg Abu Dhabi Ports Co. plans to sell more debt to support investment after a debut bond of $1 billion on Wednesday.The government-owned port operator in the capital of the United Arab Emirates will look at a mix of loans, bonds and sukuk as well as potential cash injections from its owner to fund growth, Chief Financial Officer Martin Aarup said in an interview. The company is planning $4.2 billion in investment over the...
Tags: Travel, Bloomberg, United Arab Emirates, Uae, Organization of Petroleum Exporting Countries, Rupert Neil Bumfrey, Ross Thompson, Abu Dhabi Ports, ADQ, Bloomberg Abu Dhabi Ports Co, Martin Aarup, Falah Mohamed Al Ahbabi, Aarup


#AbuDhabi's TAQA sells $1.5 billion in bonds | Reuters

Abu Dhabi's TAQA sells $1.5 billion in bonds | ReutersAbu Dhabi National Energy Company (TAQA), owned by Abu Dhabi state-owned holding company ADQ, sold on Tuesday $1.5 billion in dual-tranche bonds comprising a seven-year tranche and 30-year Formosa notes, a document showed.It sold $750 million of each tranche, with the seven-year paper at 80 basis points over U.S. Treasuries and the 30-year notes at 3.4%, the document from one of the banks on the deal showed.Initial guidance was around 110 bas...
Tags: Travel, Taiwan, Hsbc, Abu Dhabi, Citi, Reuters, U S Treasuries, Formosa, Rupert Neil Bumfrey, MUFG, Abudhabi, Taqa, ADQ, Abu Dhabi state, ReutersAbu Dhabi National Energy Company TAQA, Bank of China First Abu Dhabi Bank Mashreq Mizuho


#AbuDhabi's TAQA hires banks for dollar bonds - document | ZAWYA MENA Edition

Abu Dhabi's TAQA hires banks for dollar bonds - document | ZAWYA MENA EditionAbu Dhabi National Energy Company (TAQA), owned by Abu Dhabi state-owned holding company ADQ, has hired banks to arrange a dual-tranche bond issuance comprising a seven-year tranche and 30-year Formosa paper, a document showed on Monday.It also announced a tender offer for 3.625% notes due in 2021 and 5.875% paper also due this year, as well as 3.625% notes due in 2023, the document from one of the banks on the deal sho...
Tags: Travel, Hsbc, Abu Dhabi, Citi, Formosa, Rupert Neil Bumfrey, Taqa, SMBC Nikko, ADQ, Abu Dhabi state, BNP HSBC MUFG


#UAE's Agthia approves 75% acquisition of Egypt's Ismailia Agricultural | Reuters

UAE's Agthia approves 75% acquisition of Egypt's Ismailia Agricultural | ReutersAbu Dhabi-listed food and beverage company Agthia Group on Wednesday said its board has approved an indirect acquisition of three quarters of Egypt’s Ismailia Agricultural and Industrial Investment.Agthia’s acquisition of the 75.02% stake would give Ismailia an enterprise value of 3.22 billion Egyptian pounds ($205.6 million), Agthia said in a stock exchange filing.Two wholly-owned units of Agthia will be incorporate...
Tags: Travel, Egypt, Uae, Abu Dhabi Global Market, ISMAILIA, Rupert Neil Bumfrey, Agthia, Agthia Group, ADQ, Ismailia Agricultural, Abu Dhabi state


#AbuDhabi fund, CVC, among suitors for $1 billion NMC hospital business | Reuters

Abu Dhabi fund, CVC, among suitors for $1 billion NMC hospital business | Reuters Abu Dhabi state-owned holding company ADQ and private equity firm CVC Capital Partners are among the suitors that have shown interest in NMC Health’s core hospital business, sources told Reuters.Hospital operators in the region have reported higher profits for last year as the COVID-19 pandemic led to higher in-patient occupancy.NMC has hired advisers for the sale of NMC’s healthcare business in the United Arab Emi...
Tags: Travel, Oman, Abu Dhabi, CVC, Reuters, United Arab Emirates UAE, NMC, CVC Capital Partners, Reuters Abu Dhabi, Rupert Neil Bumfrey, NMC Health, Reuters Hospital, Sulaiman Al Habib Medical Group HMG, ADQ, Abu Dhabi Health Services Co Seha


#AbuDhabi's ADQ assets estimated at $110 billion | Reuters

Abu Dhabi's ADQ assets estimated at $110 billion | Reuters Abu Dhabi’s state holding company ADQ is worth $110 billion, sovereign wealth fund tracker Global SWF said, the first publicly available estimate of ADQ’s assets under management.Established in 2018, ADQ has gained prominence in the past year as Abu Dhabi consolidated several government assets under its banner.ADQ, which did not immediately respond to a request for comment, owns Abu Dhabi Ports, Abu Dhabi Airport and bourse operator ADX....
Tags: Travel, Abu Dhabi, Reuters, Reuters Abu Dhabi, Rupert Neil Bumfrey, Mubadala, Abu Dhabi Investment Authority Adia, ADQ, Global SWF, Abu Dhabi Ports Abu Dhabi Airport, Louis Dreyfus Co Global SWF


Wealth Fund Newbie Comes Into Focus in $1 Trillion Sovereign Hub - Bloomberg #AbuDhabi #UAE

Wealth Fund Newbie Comes Into Focus in $1 Trillion Sovereign Hub - Bloomberg For all the buzz around Abu Dhabi’s newest wealth fund, the size of ADQ has been harder to pin down. A new report from Global SWF has put a number for the first time on how much the sovereign investor has amassed. Through the transfer of government holdings including the domestic stock exchange, alongside a series of investments, ADQ now oversees $110 billion in assets, according to estimates by the New York-based data ...
Tags: Travel, New York, Bloomberg, United Arab Emirates, Abu Dhabi, Gulf, Diego Lopez, Rupert Neil Bumfrey, ADQ, Global SWF, Trillion Sovereign Hub Bloomberg


Oil-Rich #AbuDhabi Targets Hydrogen as Fuel for Future Export - Bloomberg

Oil-Rich Abu Dhabi Targets Hydrogen as Fuel for Future Export - Bloomberg Three of Abu Dhabi’s biggest government-backed companies agreed to work together to turn the oil-rich emirate into an exporter of blue and green hydrogen.Mubadala Investment Co., Abu Dhabi National Oil Co. and ADQ have formed an alliance to produce hydrogen using natural gas and renewable energy and market it overseas as well as in the United Arab Emirates, ADQ said in a statement.Some Middle Eastern states that built thei...
Tags: Travel, Saudi Arabia, United Arab Emirates, Abu Dhabi, Uae, Rupert Neil Bumfrey, Saudi Arabia Abu Dhabi, ADQ, Mubadala Investment Co Abu Dhabi National Oil Co


#Saudi, #AbuDhabi Wealth Funds Team Up on Egyptian Drugmaker Deal - Bloomberg

Saudi, Abu Dhabi Wealth Funds Team Up on Egyptian Drugmaker Deal - Bloomberg Two of the biggest sovereign wealth funds in the Middle East are exploring a joint bid for an Egyptian pharmaceutical company, a deal that could mark the beginning of wider co-investment plans between the two state-controlled firms, people familiar with the matter said.Saudi Arabia’s Public Investment Fund and ADQ, formerly known as Abu Dhabi Development Holding Co., are weighing the purchase of Bausch Health Cos.’s Cai...
Tags: Travel, Saudi Arabia, Bloomberg, Egypt, Middle East, Abu Dhabi, Pif, Cairo, Gulf, Bausch, Rupert Neil Bumfrey, Public Investment Fund, Louis Dreyfus Co, Abu Dhabi Development Holding Co, ADQ, Bausch Health Cos


#AbuDhabi's ADQ eyes around $1 billion loan to back Louis Dreyfus deal: sources | Reuters

Abu Dhabi's ADQ eyes around $1 billion loan to back Louis Dreyfus deal: sources | Reuters Abu Dhabi state-owned ADQ is in talks with banks for a loan of about $1 billion that would back its acquisition of a 45% stake in commodities trader Louis Dreyfus Co (LDC), three sources said.ADQ said last week it had signed an agreement to acquire an indirect 45% equity stake in LDC, in what would be the first outside investment in the family-owned commodity merchant’s 169-year-old history.ADQ has been in ...
Tags: Travel, Abu Dhabi, Reuters, Louis Dreyfus, Reuters Abu Dhabi, LDC, Rupert Neil Bumfrey, ADQ, Louis Dreyfus Co LDC


Louis Dreyfus sells stake to #AbuDhabi sovereign wealth fund | Financial Times

Louis Dreyfus sells stake to Abu Dhabi sovereign wealth fund | Financial Times     Margarita Louis-Dreyfus is the widow of Robert Louis-Dreyfus, whose family founded the company in 1851. She borrowed around $1bn in 2018 to take control of the business © Tolga Akmen / FT Commission Louis Dreyfus Company has agreed to sell a 45 per cent stake to Abu Dhabi state-owned holding company ADQ, opening the agricultural trader to a non-family shareholder for the first time in its 169-y...
Tags: Travel, Geneva, Abu Dhabi, Financial Times, Margarita Louis Dreyfus, Louis Dreyfus, Robert Louis Dreyfus, LDC, Rupert Neil Bumfrey, ADQ, Financial Times Margarita Louis Dreyfus, © Tolga Akmen FT Commission Louis Dreyfus Company, Mrs Louis Dreyfus


#AbuDhabi’s ADQ to Form Digital Bank With $545 Million Capital - Bloomberg

Abu Dhabi’s ADQ to Form Digital Bank With $545 Million Capital - Bloomberg:  Abu Dhabi investment firm ADQ plans to set up a digital bank with an initial capital of 2 billion dirhams ($545 million) after obtaining the legacy license of First Gulf Bank.  First Abu Dhabi Bank, formed with the merger of First Gulf Bank and National Bank of Abu Dhabi, said Tuesday its shareholders approved the transfer of the license to ADQ.  First Abu Dhabi Bank, the United Arab Emirates’ largest lender, will own...
Tags: Travel, Bloomberg, Egypt, Middle East, Abu Dhabi, Uae, LuLu Group International, First Gulf Bank, Abu Dhabi Airports, National Bank of Abu Dhabi, Abu Dhabi Securities Exchange, Rupert Neil Bumfrey, ADQ, Form Digital Bank, First Gulf Bank First Abu Dhabi Bank, ADQ First Abu Dhabi Bank the United Arab Emirates


#AbuDhabi's ADQ to invest $1 billion to help retailer Lulu expand in Egypt | Reuters

Abu Dhabi's ADQ to invest $1 billion to help retailer Lulu expand in Egypt | Reuters:  ADQ, a holding company owned by the Abu Dhabi government, said on Monday it has signed an agreement with regional retailer Lulu International to help fund its expansion in Egypt with an investment of up to $1 billion.  ADQ and Lulu will work to develop up to 30 hypermarkets and 100 express mini-market stores, as well as logistics hubs, distribution and fulfilment centres to strengthen the retailer’s e-commer...
Tags: Travel, Egypt, Lulu, Abu Dhabi, Reuters, Rupert Neil Bumfrey, Abu Dhabi Government, Mohamed Hassan al Suwaidi, ADQ, Lulu International


#AbuDhabi Wealth Fund ADQ Said to Pursue Bausch’s Egypt Unit - Bloomberg

Abu Dhabi Wealth Fund ADQ Said to Pursue Bausch’s Egypt Unit - Bloomberg:Abu Dhabi sovereign wealth fund ADQ is exploring a potential acquisition of Bausch Health Cos.’s Egyptian drug unit, people with knowledge of the matter said.ADQ has been evaluating the Bausch business, known as Amoun Pharmaceutical Co., as it seeks to expand its portfolio of health-care investments, according to the people. Amoun could fetch at least $700 million in a sale, the people said, asking not to be identified beca...
Tags: Travel, Bloomberg, Egypt, Abu Dhabi, Valeant Pharmaceuticals International Inc, Bausch, Rupert Neil Bumfrey, Glenview Capital, ADQ, Bausch Health Cos, Amoun Pharmaceutical Co, Amoun


#AbuDhabi Funds Invest $2.1 Billion in Adnoc Gas Pipelines - Bloomberg

Abu Dhabi Funds Invest $2.1 Billion in Adnoc Gas Pipelines - Bloomberg:Abu Dhabi government institutional investors are paying $2.1 billion for a stake in a natural gas pipelines unit run by Abu Dhabi National Oil Co.Abu Dhabi Pension Fund and holding company ADQ will take an indirect stake in the pipelines unit Adnoc set up earlier this year, the oil and gas company said in a statement. Adnoc is doing the transaction at the same price as a deal in June, when it agreed to sell a stake in the gas...
Tags: Travel, Opec, United Arab Emirates, Abu Dhabi, ADNOC, Rupert Neil Bumfrey, Adnoc Gas Pipelines Bloomberg, ADQ, AbuDhabi Funds Invest, Abu Dhabi Funds Invest, Abu Dhabi National Oil Co Abu Dhabi Pension Fund


#Saudi up on petrochemical shares; Egypt extends losses | Reuters

Saudi up on petrochemical shares; Egypt extends losses | Reuters:Saudi Arabian shares ended higher on Sunday as Saudi Industrial Investment Group 2250.SE and National Petrochemical Company 2002.SE surged on news the two were in merger talks, while Egypt's blue-chip index extended losses for a second session.Saudi Arabia's benchmark index .TASI rose 0.3%, with SIIG 2250.SE advancing 5.5% and National Petrochemical Company 2002.SE jumping 6.8%.A deal between the two would mark further consolidatio...
Tags: Travel, Saudi Arabia, Israel, Qatar, Egypt, Dubai, Abu Dhabi, Reuters, Aramex, Adi, Tasi, Rupert Neil Bumfrey, QSI, United Arab Emirates Israel, ADIB, First Abu Dhabi Bank


Wizz Air CEO says #AbuDhabi-JV to be bigger than initially planned | ZAWYA MENA Edition

Wizz Air CEO says Abu Dhabi-JV to be bigger than initially planned | ZAWYA MENA Edition:Wizz Air's Abu Dhabi-based joint venture will now be bigger than originally planned with six aircraft up from three, the Hungary-based carrier's chief executive said on Wednesday.The joint venture with Abu Dhabi state holding company ADQ will start flying in October, with tickets on sale from June to destinations in Europe, the Indian subcontinent, Middle East and Africa. "We are looking at a larger scale sta...
Tags: Travel, Europe, Africa, Hungary, Middle East, Abu Dhabi, Reuters, Rupert Neil Bumfrey, Jozsef Varadi, ADQ, Abu Dhabi JV


Wizz Air's #AbuDhabi joint venture to start flights this year - Reuters

Wizz Air's Abu Dhabi joint venture to start flights this year - Reuters:Wizz Air’s planned Abu Dhabi-based joint venture carrier is expected to start flying this year, the European budget airline said in a statement on Sunday.The joint venture with Abu Dhabi state holding company ADQ, announced in December, aims to start flights to Europe, the Indian subcontinent, Middle East and Africa, Wizz Air said.Wizz Air will also start flights from European cities to Abu Dhabi from June, which it said wou...
Tags: Travel, Europe, Middle East, Abu Dhabi, Reuters, Wizz Air, Rupert Neil Bumfrey, ADQ, Africa Wizz Air