Vertiv inaugurates new factory in Ras Al Khaimah

Vertiv, a global provider of critical digital infrastructure and continuity solutions, has espanded its factory in Ras Al Khaimah, to support its integrated modular solutions (IMS), low voltage switchgear and busway businesses. The latest addition will help the company proactively address the increasing demand for Vertiv products and services. This new facility will be strategic […]

First Abu Dhabi explored offer for Standard Chartered

First Abu Dhabi Bank, the UAE’s largest lender, said it had considered making an offer for the emerging markets-focused Standard Chartered listed in London. “First Abu Dhabi Bank confirms that it had previously been at the very early stages of evaluating a possible offer for Standard Chartered, but as of the date of this announcement, […]

UAE’s Alpha Dhabi Holding acquires stake in Mykonos-based Nammos Group

UAE-based investment firm Alpha Dhabi Holding has acquired a stake in Greek lifestyle and F&B brand Nammos, as it looks to cash in on the growing food and beverage and lifestyle markets. The deal of undisclosed value is a result of the company’s joint venture with Monterock International, an international investment company with a focus […]

AD Ports Group acquires 80% of GFS for $790mln

Abu Dhabi’s AD Ports Group has announced an AED 2.9 billion ($790 million) acquisition of an 80% stake in Dubai-based Global Feeder Shipping (GFS), implying a 100% enterprise value of AED 3.7 billion ($1 billion). The ports company said the acquisition of GFS had been fully funded through a new acquisition loan. “This earnings and […]

ADNOC ‘in talks’ to acquire or invest in energy trader Gunvor Group – report

Abu Dhabi National Oil Company (ADNOC) is reportedly looking for a partial or full acquisition of Geneva-based Gunvor Group, according to a Bloomberg report. The state-run oil producer has conducted “early-stage talks” about the potential acquisition, Bloomberg reported, citing sources who asked not to be named. Gunvor is one of the world’s largest independent commodities […]