Multiply Group’s board in Abu Dhabi has given the green light to acquire 2PointZero and Ghitha Holding via a share-swap deal.
As part of the transaction, Multiply Group will issue its own shares to the two companies, followed by the creation of new shares to finalise the acquisition, subject to shareholder and regulatory approvals.
Abu Dhabi’s 2PointZero is an investment firm with scalable holdings in energy, mining, and financial services, serving as both an AI enabler and a catalyst for the energy transition. Ghitha Holding focuses on agriculture, food production, and distribution, contributing significantly to food security in the UAE and beyond.
Together, the two companies bring synergistic strengths across the energy and consumer sectors. The deal is expected to enhance operational and investment efficiency within Multiply Group’s portfolio by consolidating complementary assets under a single listed platform.
Syed Basar Shueb, Chairman of Multiply Group, said: “This move reflects the next step in our portfolio strategy — to scale up and fortify the platforms we have developed over recent years.”
Samia Bouazza, Group CEO and Managing Director of Multiply, remarked: “This strategic union isn’t just a merger of balance sheets — it’s the alignment of vision, mission, capital, and top talent. Together, we’re building a balanced, diversified investment group valued at AED120 billion (US$32.7 billion), spanning energy, food, logistics, packaging, mining, apparel, media, mobility, and beauty.”
As part of the acquisition, Multiply Group will issue about 23.36 billion new shares, raising its share capital from AED 2.8 billion (US$760 million) to AED 8.64 billion (US$2.35 billion).
Once completed, the merged entity will comprise 34.56 billion shares, marking a significant expansion of Multiply Group’s capital base. Further details of the reorganisation will be shared after the review process concludes.
