{"id":93696,"date":"2024-07-10T00:00:00","date_gmt":"2024-07-10T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/uae\/dubal-snaps-up-majority-stake-in-biod\/"},"modified":"2024-07-10T00:00:00","modified_gmt":"2024-07-10T00:00:00","slug":"dubal-snaps-up-majority-stake-in-biod","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/uae\/2024\/07\/10\/dubal-snaps-up-majority-stake-in-biod\/","title":{"rendered":"Dubal snaps up majority stake in BiOD"},"content":{"rendered":"

Dubal Holding buys into BiOD: <\/strong>Dubai government\u2019s investment arm Dubal<\/a>Holding<\/a> \u2014 a subsidiary of sovereign wealth fund Investment Corporation of Dubai \u2014 acquired a majority stake in Dubai-based biodiesel manufacturer BiOD<\/a> for an undisclosed value, Trade Arabia<\/a> reports. The acquisition will see the two firms collaborate to strengthen Dubai's green economy and enhance environmental sustainability in the energy sector. <\/p>\n

About BiOD: <\/strong>BiOD produces biofuel from cooking oil and palm oil mill effluent at its second-generation biodiesel refinery, located in the Jebel Ali Freezone.<\/span><\/p>\n

ADVISORS- <\/strong>UAE-based Ideal Capital<\/a> acted as BiOD\u2019s advisor on the transaction. <\/p>\n

IN OTHER M&A NEWS-<\/p>\n

More details on Electra\u2019s acquisition of 20% of Elsewedy: <\/strong>Abu Dhabi-based electrical equipment manufacturer Electra Investment Holding, which snapped up<\/a> 20% of Elsewedy Electric earlier this week, is a subsidiary of 2PointZero Group, which is in turn a subsidiary of the International Holding Company (IHC), according to an ADX disclosure (pdf)<\/a>. The stake will be transferred to 2PointZero today.<\/p>\n

2PointZero?<\/strong> The newly set up holding company was established<\/a> at the start of the year and is expected to hold the equivalent of USD 27 bn in assets \u2014 including Beltone Financial Holding, Chimera, and Lunate. <\/p>\n","protected":false},"excerpt":{"rendered":"

BiOD operates the only biodiesel refinery in the region<\/p>\n","protected":false},"author":1,"featured_media":93697,"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":[1336,1312,7,60],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-93696","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ma-watch-2","tag-acquisition","tag-dubal-holding","tag-enterpriseam-uae","tag-ma-watch","wpautop","entry"],"acf":{"mongo_id":"6d819a53-a364-4199-8c05-a1cff78cbb57","order":"4","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/3\/1432.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Dubal snaps up majority stake in BiOD","related_issue":[93689],"teaser":"BiOD operates the only biodiesel refinery in the region","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/7\/.2373ac21-4293-474c-a1b1-b1b4c94180da.mp3"},"yoast_head":"\nDubal snaps up majority stake in BiOD - 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