Two Point Zero Group PJSC announced that it has entered into an agreement to sell its entire shareholding in Abu Dhabi National Energy Company PJSC (TAQA) to Abu Dhabi Power Corporation PJSC, an indirect wholly owned subsidiary of L’IMAD Holding Company PJSC.
According to the company, the transaction forms part of its ongoing strategic initiatives and portfolio optimization efforts. The sale remains subject to the terms and conditions outlined in the transaction documents, as well as any required regulatory approvals.
Key highlights:
• Two Point Zero to sell its full stake in TAQA
• Buyer is Abu Dhabi Power Corporation PJSC
• Abu Dhabi Power Corporation is an indirect wholly owned subsidiary of L’IMAD Holding Company PJSC
• Transaction forms part of Two Point Zero’s portfolio optimization strategy
• Subject to regulatory approvals and transaction conditions
The company did not disclose the size of the shareholding being sold or the financial value of the transaction in the announcement.
Two Point Zero stated that the transaction aligns with its broader strategy of actively managing and optimizing its investment portfolio while pursuing long-term value creation opportunities.
TAQA is one of the UAE’s largest listed utility companies, with operations spanning power generation, water desalination, transmission and distribution assets across multiple international markets.
Source: Abu Dhabi Securities Exchange (ADX) Disclosure / Two Point Zero Group PJSC
Disclaimer: This post is for informational purposes only and should not be considered investment or financial advice.