{"id":90536,"date":"2024-03-28T00:00:00","date_gmt":"2024-03-28T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/uae\/abu-dhabi-national-hotels-now-fully-owns-its-jv-with-compass-group\/"},"modified":"2024-03-28T00:00:00","modified_gmt":"2024-03-28T00:00:00","slug":"abu-dhabi-national-hotels-now-fully-owns-its-jv-with-compass-group","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/uae\/2024\/03\/28\/abu-dhabi-national-hotels-now-fully-owns-its-jv-with-compass-group\/","title":{"rendered":"Abu Dhabi National Hotels now fully owns its JV with Compass Group"},"content":{"rendered":"

Abu Dhabi National Hotels<\/a><\/strong> (ADNH) has finalized the acquisition of the remaining stake in its JV with <\/font><\/strong>Compass Group, <\/strong>ADNH Compass<\/a><\/strong>, it said in a disclosure to the ADX (pdf<\/a>)<\/a>. The value of the transaction \u2014 which will see ADNH acquire Compass\u2019 entire 50% stake in the company \u2014 was not disclosed in the statement.<\/p>\n

ICYMI- <\/strong>ADNH and Compass Group had reached an agreement for the takeover earlier this month<\/a>. The acquisition \u201cis part of ADNH\u2019s strategic plan to boost its revenues\u201d and income margins from key business segments,\u201d the company said at the time. The transaction is expected to help ADNH reel in an additional AED 100 mn in annual net income.<\/p>\n

Background: <\/strong>ADNH established a JV in 2008 with Compass Group and is now \u201crated as the biggest provider of food and manpower services to corporates and organizations,\u201d according to Gulf News<\/a>. The JV now offers its services, which include retail and vending, cleaning and housekeeping, pest control, and integrated facilities management, to clients ranging from schools and universities, to defense and correctional players, and the healthcare industry.<\/p>\n","protected":false},"excerpt":{"rendered":"

The two companies formed the JV in 2008<\/p>\n","protected":false},"author":1,"featured_media":90537,"comment_status":"","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":[2392],"tags":[402,1016,7,60],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-90536","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ma-watch-2","tag-abu-dhabi-national-hotels-company","tag-compass-group","tag-enterpriseam-uae","tag-ma-watch","wpautop","entry"],"acf":{"mongo_id":"a69bd96b-604b-4972-b19f-0d5ee2dcc965","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/1\/1922.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Abu Dhabi National Hotels now fully owns its JV with Compass Group","related_issue":[90525],"teaser":"The two companies formed the JV in 2008","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/3\/.a17534ce-1d73-4487-b184-7a4e53f365b5.mp3"},"yoast_head":"\nAbu Dhabi National Hotels now fully owns its JV with Compass Group - 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