Abu Dhabi-listed Emirates Stallions Group (ESG) will seek shareholder approval to sell its share in subsidiary WFC Holding LLC for AED 314.58 million ($85.6 million).

The company announced in a bourse filing to Abu Dhabi Securities Exchange (ADX) that it intends to sell its share to Reach Global Services Holding 1 SPV and one of its subsidiaries, and will ask shareholders to approve the sale at its general assembly on Thursday.

ESG acquired a 70% stake in the company in November 2021.