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Adnec takes over Royal Catering: Modon Holding subsidiary and Abu Dhabi events conglomerate Adnec Group inked definitive agreements to acquire 100% of the Abu Dhabi-based Royal Catering for an undisclosed sum, according to an ADX disclosure (pdf). Adnec will merge its newly acquired firm into its existing catering business Capital Catering, increasing Capital’s production capacity.
The rationale: Adnec aims to expand Capital Catering’s operations to serve larger contracts across more industries, diversifying its focus beyond aviation, defense and healthcare.
Part of a wider expansion plan? The company said it will continue to “organically and inorganically” expand its catering platform, with plans for operational enhancements post-acquisition to boost its growth, according to the disclosure.
About Royal Catering: The company has a production capacity of more than 50k meals daily, serving industries such as energy, defense, healthcare, and education.
OTHER M&A NEWS-
Dubai business district developer Tecom Group completed its AED 720 mn Office Park acquisition from Emirates REIT, according to a DFM disclosure (pdf). The annual income of the commercial asset, which exceeds AED 60 mn, will be recognized by Tecom starting from 4Q 2024. The acquisition brings Tecom’s total investments in commercial and industrial assets to AED 2.7 bn. Tecom received the final green light for this move after Emirates REIT’s shareholders approved it last week.
