UAE-based conglomerate Alpha Dhabi announced it plans to acquire a majority stake in the UAE-based water and wastewater project developer Metito Holdings.
Metito specializes in the water and wastewater industry, has 4500 employees, experience in over 50 countries and over 20 offices globally.
Alpha Dhabi said it plans to acquire the stake from Metito’s selling shareholders Mitsubishi Corporation, Mitsubishi Heavy Industries, and Gulf Capital.
Gulf Capital has marked a 17-year partnership with Metito Holdings Ltd. The company announced its exit from an investment in Metito, arranging the sale of a majority stake to Alpha Dhabi Holding, an investment holding firm in the UAE.
The process is also pending regulatory approvals.
Alpha Dhabi did not reveal the size of the stake it would take in Metito. Alpha Dhabi also did not announce the value of the transaction or the way of funding it.
The Ghandour family, Metito’s founding shareholders, will keep their leadership roles, Alpha Dhabi said in the statement.
The Metito group portfolio holds more than 3,000 projects in 46 countries, operating by some 3,500 employees working from of strategically located operational offices.
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