Highlights
- ADQ monetizes a minority stake in TAQA in line with its strategy of targeting a balanced and diversified portfolio
- ADQ remains committed to maintaining a sizeable ownership stake in TAQA
- TAQA is a leading utilities firm in EMEA and a key player in driving the UAE's clean transition
ADQ, an Abu Dhabi-based investment and holding company, today announced that it has entered into an agreement to monetize a stake of [8.6%] in Abu Dhabi National Energy Company PJSC (“TAQA”) to Multiply Group PJSC, Abu Dhabi Pension Fund and other prominent investors.
TAQA is a diversified utilities and energy group headquartered in Abu Dhabi, the capital of the United Arab Emirates, and listed on the Abu Dhabi Securities Exchange (ADX: TAQA). TAQA has significant investments in power and water generation, transmission and distribution assets, as well as upstream and midstream oil and gas operations. The company operates in 11 countries globally and has recently taken a controlling stake in Masdar’s renewable business, along with ADNOC and Mubadala, which aims to become a global leading clean energy company, targeting more than 50GW capacity by 2030.
About ADQ
Established in 2018, ADQ is an active global sovereign investor with a focus on critical infrastructure and supply chains. As a strategic partner to the Government of Abu Dhabi, ADQ invests in the growth of business platforms anchored in the Emirate that deliver value to local communities and long-term financial returns to its shareholder. ADQ’s expanding portfolio has a total book value of USD 225 billion (as at 30 June 2024) and encompasses companies across numerous core sectors of the economy, including energy and utilities, transport and logistics, food and agriculture, and healthcare and life sciences.
For more information, visit adq.ae or write to media@adq.ae. You can also follow ADQ on Instagram, LinkedIn, and X.
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