{"id":78364,"date":"2024-05-07T00:00:00","date_gmt":"2024-05-07T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/logistics\/2024\/05\/07\/abu-dhabi-aviation-closes-share-swap-agreement-with-adq-aviation\/"},"modified":"2024-05-07T00:00:00","modified_gmt":"2024-05-07T00:00:00","slug":"abu-dhabi-aviation-closes-share-swap-agreement-with-adq-aviation","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/logistics\/2024\/05\/07\/abu-dhabi-aviation-closes-share-swap-agreement-with-adq-aviation\/","title":{"rendered":"Abu Dhabi Aviation closes share swap agreement with ADQ Aviation"},"content":{"rendered":"

<\/strong>ADA snaps up stakes<\/strong> in three aviation firms<\/strong>:<\/strong> Commercial helicopter operator Abu Dhabi Aviation (ADA) has completed an acquisition of stakes in three aviation firms from ADQ subsidiary ADQ Aviation in a transaction valued at AED 4 bn, according to a statement (pdf)<\/a> released on Thursday. ADQ Aviation transferred stakes in the three companies \u2014 Etihad Airways Engineering, Advanced Military Maintenance Repair and Overhaul Centre (Ammroc), and Global Aerospace Logistics (GAL) \u2014 in exchange for shares in ADA.<\/p>\n

The details: <\/strong>The transaction saw ADA acquire 100% of Etihad Airways Engineering, 100% of Ammroc, and 50% of GAL. The transaction will see ADA issue convertible notes valued at some AED 4 bn, to be converted into new ADA shares, totaling 652 mn shares. Following the issuance of the convertible instrument, ADQ Aviation will hold a 59.45% stake in ADA.<\/p>\n

Background:<\/strong> ADA initially received the offer from the ADQ subsidiary in 2022<\/a>, to \u201cprovide a framework to investing in the future development of an advanced aviation ecosystem that supports the sustainable transformation of Abu Dhabi and the UAE\u2019s economy for the long term,\u201d ADQ Managing Director Mohamed Alsuwaidi said at the time. The offer was later approved by ADA\u2019s board in April last year (pdf)<\/a>.<\/p>\n

ADA\u2019s portfolio expansion aims to \u201ccreate a competitively positioned, vertically integrated aviation group <\/strong>of companies with strong capabilities in maintenance, logistics, supply chain and advanced engineering.\u201d <\/p>\n

What they said:<\/strong> \u201cThe completion of this transaction makes ADA a competitive force in the aviation sector that is equipped to further strengthen Abu Dhabi\u2019s status as a global aviation hub. By extending ADA\u2019s value chain into the maintenance, repair and overhaul segment, we have greater scale for growth and look forward to catering to the needs of our customers with an exceptional commitment to excellence,\u201d ADA chairman Nader Ahmed Alhammadi said. <\/p>\n","protected":false},"excerpt":{"rendered":"

ADA will issue convertible notes valued at AED 4 bn<\/p>\n","protected":false},"author":1,"featured_media":78365,"comment_status":"","ping_status":"open","sticky":false,"template":"single-feature.php","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":[941],"tags":[145,137,129],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-78364","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ma-watch-2","tag-aviation","tag-ma-watch","tag-uae","wpautop","entry"],"acf":{"mongo_id":"3ca9fc26-0902-49c9-9953-bb92a90ccc79","order":"6","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/5\/370.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Abu Dhabi Aviation closes share swap agreement with ADQ Aviation","related_issue":[78355],"teaser":"ADA will issue convertible notes valued at AED 4 bn","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/5\/.f85f4570-821a-4d73-bebe-9dbe23763dc3.mp3"},"yoast_head":"\nAbu Dhabi Aviation closes share swap agreement with ADQ Aviation - 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