Multiply Group shareholders approve proposed acquisitions of 2PointZero and Ghitha Holding

11/11/2025 01:19 AST

Multiply Group, the Abu Dhabi-based investment holding company that invests in and operates businesses globally, on Monday announced that its shareholders have approved the proposal for Multiply Group's acquisitions of 2PointZero Holding RSC Limited and Ghitha Holding PJSC through share-swap transactions. These acquisitions form part of Multiply Group's broader strategy to build scale, enhance portfolio synergies, and drive sustainable long-term value. As approved by the shareholders, Multiply Group will issue 23.36 billion new shares, increasing its share capital from Dh2.8 billion to Dh8.64 billion, to complete the transactions. The approved resolutions also include amendments to the company's articles of association, the change of trade name to Two Point Zero Group PJSC, and an increase in the number of board members from five to nine. The shareholder approvals mark an important milestone in Multiply Group's journey toward creating one of the region's most diversified and balanced investment platforms. Combining Multiply Group, 2PointZero, and Ghitha Holding within a unified structure creates a globally competitive platform focused on Energy and Consumer, complemented by a large alternative investment arm. Syed Basar Shueb, Chairman of Multiply Group, said: "Today's shareholder approval reflects confidence in Multiply Group's strategic direction and our commitment to long-term value creation. The acquisitions of 2PointZero and Ghitha strengthen our platform and position us to capture opportunities across transformative sectors." The GAM also authorized the Company's Board of Directors to take all necessary actions to implement the approved resolutions, including the execution of share-swap procedures, amendments to the Company's Articles of Association, and the listing of new shares on the Abu Dhabi Securities Exchange (ADX) following regulatory approvals.

Khaleej Times