Cyclic Hotline
17th Oct 2022, 11:35
https://www.reuters.com/business/aerospace-defense/abu-dhabis-adq-makes-merger-offer-abu-dhabi-aviation-2022-10-17Abu Dhabi's ADQ makes merger offer to Abu Dhabi AviationReuters (https://www.reuters.com/authors/reuters/)
DUBAI, Oct 17 (Reuters) - Abu Dhabi sovereign wealth fund ADQ said on Monday it had made an offer to take a controlling stake in Abu Dhabi Aviation (ADAVIATION.AD) (https://www.reuters.com/companies/ADAVIATION.AD) and merge the helicopter operator with ADQ stakes in Etihad Engineering, AMMROC and GAL to create a "globally competitive aviation business" with about 9.4 billion dirhams ($2.56 billion) in assets.
ADA said in a stock exchange filing it would hold a board meeting on Wednesday to discuss the offer.
DUBAI, Oct 17 (Reuters) - Abu Dhabi sovereign wealth fund ADQ said on Monday it had made an offer to take a controlling stake in Abu Dhabi Aviation (ADAVIATION.AD) (https://www.reuters.com/companies/ADAVIATION.AD) and merge the helicopter operator with ADQ stakes in Etihad Engineering, AMMROC and GAL to create a "globally competitive aviation business" with about 9.4 billion dirhams ($2.56 billion) in assets.
ADA said in a stock exchange filing it would hold a board meeting on Wednesday to discuss the offer.