Abu Dhabi’s International Holding Company (IHC) subsidiaries Alpha Dhabi and IHC Real Estate Holding have together offloaded IHC’s entire 42.5% stake in Abu Dhabi developer Modon, to Abu Dhabi government-owned L’imad Holding Company, according to a statement. The company now owns an 84.76% stake in Modon.

IHC netted AED 26.3 bn from the sale, according to two separate disclosures to the ADX here(pdf) and here (pdf).

The sale comes as part of a strategic review of its portfolio, with an eye towards “balanced exposure across sectors and geographies,” state news agency Wam reported. The company’s sector concentration framework entails that its exposure to any given sector is capped at 20%, so it will now recycle the capital from the real estate sector to sectors like healthcare, technology, energy, food and agriculture, and financial services, Wam said.

The company also said it is a “timely” exit that will help it unlock additional liquidity, given Modon’s revenues and profitability. The developer reported some AED 6.5 bn in revenues in 1H 2025, up 199.1%, while its bottomline came in at AED 2.1 bn, down 75.7% due to an acquisition gain in 1H 2024. IHC had originally acquired (pdf) a stake in Modon in 2023.

MEANWHILE- IHC is on track to close its USD 1 bn acquisition of a stake in Mumbai-listed mortgage-focused Sammaan Capital, after the majority of the lender’s shareholders approved the transaction, with some 94.41% voting in favor at an extraordinary general assembly (pdf).

The company is now set to acquire a 41.2% stake in the firm through its affiliate Avenir Investment, which will acquire newly issued shares in the lender. The plan was initially to issue 330 mn equity shares and 306.7 mn convertible warrants at INR 139 per share. The transaction will also trigger a mandatory open offer to acquire an additional 26% stake at the same price.

REMEMBER- IHC plans to deploy USD 110 bn in India over the next five years, and it has previously invested in Adani Group companies and Haldiram Snacks Foods.

ADVISORS: Jefferies and Citi Bank are reportedly advising Sammaan Capital on the transaction.

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