{"id":79714,"date":"2023-09-26T01:00:53","date_gmt":"2023-09-26T01:00:53","guid":{"rendered":"https:\/\/enterpriseam.com\/climate\/2023\/09\/26\/conglomerate-alpha-dubai-eyes-majority-stake-in-metito-holdings\/"},"modified":"2023-09-26T01:00:53","modified_gmt":"2023-09-26T01:00:53","slug":"conglomerate-alpha-dubai-eyes-majority-stake-in-metito-holdings","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/climate\/2023\/09\/26\/conglomerate-alpha-dubai-eyes-majority-stake-in-metito-holdings\/","title":{"rendered":"Conglomerate Alpha Dubai eyes majority stake in Metito Holdings"},"content":{"rendered":"

<\/a> Alpha Dhabi set to buy majority shares in desal and wastewater treatment giant <\/strong>Metito:<\/strong> One of UAE\u2019s biggest conglomerates, Alpha Dhabi Holding<\/a>, is planning to acquire a majority stake in local water management solutions provider Metito Holdings<\/a> pending regulatory approvals, according to a company statement<\/a>. The agreement would help finance Metito\u2019s plans to expand its smart water solutions across the MENA region, the statement said. The two companies did not disclose the size or value of the stake to be purchased.<\/p>\n

Who\u2019s selling? <\/strong>Alpha Dhabi said it plans to acquire the stake from Metito's selling shareholders Japan\u2019s Mitsubishi Corporation<\/a> and Mitsubishi Heavy Industries<\/a>, as well as Abu Dhabi-based asset manager Gulf Capital<\/a>. Metito\u2019s founding shareholders \u2014 the Ghandour family \u2014 will continue to manage the firm.<\/p>\n

What they said:<\/strong> \u201cTogether, we aim to address the pressing water challenges, especially in the MENA region, which is the most water-stressed region globally,\u201d Metito co-CEO Talal Ghandour said. \u201cWe are poised to make significant contributions to sustainable solutions, especially as the UAE\u2019s Year of Sustainability and COP28 gain traction,\u201d co-CEO Rami Ghandour added.<\/p>\n

Metito is expanding regionally: <\/strong>The water development company is in talks to establish four desalination plants<\/a> to support Egyptian green hydrogen production facilities, Metito Managing Director Karim Madwar told Al Mal in July. Metito partnered with Taqa, Orascom Construction (OC), and the Abu Dhabi National Oil Company (Adnoc) in May to establish a USD 2.4 bn mega seawater treatment and water supply project<\/a> in the UAE. Metito is also currently constructing the Al Mahsama agricultural drainage treatment plant<\/a> in Sinai, Egypt and a treatment and recycling plant<\/a> in Sharjah, UAE.<\/p>\n

And is entering partnerships to facilitate financing for water projects in Africa: <\/strong>In March, Metito launched<\/a> the investment platform Africa Water Infrastructure Development (AWID) in partnership with British International Investment<\/a> with the aim of reducing funding gaps in sustainable water projects. The AWID-Metito JV has been seeded with a desalination project in Egypt\u2019s Sharm El Sheikh and a water treatment facility in Kigali, Rwanda.<\/p>\n

About Alpha Dhabi:<\/strong> The state-linked firm is a subsidiary of one of the UAE\u2019s most valuable companies, International Holding Company<\/a>, and works in sectors including construction, hospitality, and healthcare. It is also one of the largest shareholders in Aldar \u2014 the new co-owners<\/a> of Egyptian real estate giant SODIC alongside Abu Dhabi sovereign wealth fund ADQ. Alpha Dhabi went public on the ADX<\/a> over the summer.<\/p>\n","protected":false},"excerpt":{"rendered":"

Alpha Dhabi set to buy majority shares in desal and wastewater treatment giant Metito: One of UAE\u2019s biggest conglomerates, Alpha Dhabi Holding, is planning to acquire a majority stake in local water management solutions provider Metito Holdings pending regulatory approvals, according to a company statement. The agreement would help finance Metito\u2019s plans to expand its […]<\/p>\n","protected":false},"author":1,"featured_media":79715,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[2016],"tags":[1857,100,11,79,428,52,296],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-79714","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ma-watch-2","tag-alpha-dubai","tag-desalination","tag-enterpriseclimate","tag-ma-watch","tag-metito","tag-uae","tag-wastewater-treatment","wpautop","entry"],"acf":{"mongo_id":"d6aef2bd-7490-4c9b-9dc1-d616cc274ba2","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2019\/2\/151.jpg","photo_position":"above","related_issue":[79709],"teaser":"","voice_url":""},"yoast_head":"\nConglomerate Alpha Dubai eyes majority stake in Metito Holdings - Climate<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/climate\/2023\/09\/26\/conglomerate-alpha-dubai-eyes-majority-stake-in-metito-holdings\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Conglomerate Alpha Dubai eyes majority stake in Metito Holdings\" \/>\n<meta property=\"og:description\" content=\"Alpha Dhabi set to buy majority shares in desal and wastewater treatment giant Metito: One of UAE\u2019s biggest conglomerates, Alpha Dhabi Holding, is planning to acquire a majority stake in local water management solutions provider Metito Holdings pending regulatory approvals, according to a company statement. The agreement would help finance Metito\u2019s plans to expand its […]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/climate\/2023\/09\/26\/conglomerate-alpha-dubai-eyes-majority-stake-in-metito-holdings\/\" \/>\n<meta property=\"og:site_name\" content=\"Climate\" \/>\n<meta property=\"article:published_time\" content=\"2023-09-26T01:00:53+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/i0.wp.com\/ent.news\/2019\/2\/151.jpg?fit=%2C&ssl=1\" \/>\n<meta name=\"author\" content=\"enterpriseam admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"enterpriseam admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/climate\/2023\/09\/26\/conglomerate-alpha-dubai-eyes-majority-stake-in-metito-holdings\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/climate\/2023\/09\/26\/conglomerate-alpha-dubai-eyes-majority-stake-in-metito-holdings\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/climate\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"Conglomerate Alpha Dubai eyes majority stake in Metito Holdings\",\"datePublished\":\"2023-09-26T01:00:53+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/climate\/2023\/09\/26\/conglomerate-alpha-dubai-eyes-majority-stake-in-metito-holdings\/\"},\"wordCount\":414,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/climate\/#organization\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/climate\/2023\/09\/26\/conglomerate-alpha-dubai-eyes-majority-stake-in-metito-holdings\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/ent.news\/2019\/2\/151.jpg?fit=%2C&ssl=1\",\"keywords\":[\"Alpha Dubai\",\"DESALINATION\",\"EnterpriseClimate\",\"M&A WATCH\",\"Metito\",\"UAE\",\"wastewater treatment\"],\"articleSection\":[\"M&A WATCH\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/climate\/2023\/09\/26\/conglomerate-alpha-dubai-eyes-majority-stake-in-metito-holdings\/\",\"url\":\"https:\/\/enterpriseam.com\/climate\/2023\/09\/26\/conglomerate-alpha-dubai-eyes-majority-stake-in-metito-holdings\/\",\"name\":\"Conglomerate Alpha Dubai eyes majority stake in Metito Holdings - 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