Dubizzle acquires automotive news platform Drive Arabia

Dubai-based platform Dubizzle Group has acquired automotive media and reviews platform Drive Arabia, according to a press release. The company plans to make a “significant investment” in the platform to “enhance its core value proposition as a transparent tool for car prices, specifications, and other relevant details to help us become the go-to platform for new car launches in the region,” Dubizzle CEO Haider Ali Khan said. No details were given about the terms or value of the transaction.

What’s in it for Dubizzle: Dubizzle Group plans to expand its automotive advertising offerings and reach, as well as introduce new products, according to the statement.

Plans for future acquisitions: “This is just the beginning and we are keeping a very keen eye on any other M&A [possibilities] that further help us expand our offerings in the verticals we operate in,” Khan said.

EGA now owns Leichtmetall: Emirates Global Aluminium (EGA) has closed its acquisition of 100% of German aluminum recycling company Leichtmetall Aluminum Giesserei from Leichtmetall Holding, according to a company statement. EGA finalized the transaction after receiving regulatory approval, the company said without providing details on the value of the purchase.

Background: The company revealed the transaction last month, marking its first major acquisition since it was formed through the merger of Dubai Aluminum and Emirates Aluminum.

The acquisition will bolster EGA’s renewable production capacity: Leichtmetall’s facilities operate with an annual production capacity of 30k tons of billets using renewable energy, with 80% of the input material being secondary aluminum. The new capacity will be added to 600k tons of primary aluminum EGA exports to Europe annually, bringing the company closer to European customers, as the EU inches closer to introducing its tax on carbon-intensive imports in 2026. Recycled aluminum is set to account for around 60% of global aluminum demand by 2030 and 70% by 2040, to reach 57 mn tons, EGA noted in its statement.