Friday 8 November 2024
 
»
 
»
GHANDOUR TO RETAIN ROLE

Alpha Dhabi takes majority stake in Metito Holdings

ABU DHABI, September 25, 2023

Alpha Dhabi Holding, one of the fastest- growing investment holding companies in the UAE, has acquired a majority stake in Metito Holdings, a global leader in the water and wastewater industry. 
Pending regulatory approvals, this pivotal transaction marks Alpha Dhabi’s strategic entry into the water and wastewater domain. 
 
The acquisition not only underscores the company’s commitment to diversifying its portfolio but also bolsters Metito’s mission to broaden smart water solutions across the MENA region and beyond, aligning with the UN sustainability goals, said a statement.
 
Financial details of the deal have not been released.
 
The acquisition sees Alpha Dhabi purchasing the majority stake from selling shareholders Mitsubishi Corporation, Mitsubishi Heavy Industries, and Gulf Capital, showcasing Alpha Dhabi’s confidence in Metito’s expertise and future potential. The Ghandour family, Metito’s founding shareholders, will retain their leadership roles, ensuring the company’s foundational principles of impact, sustainability, and innovation remain intact.
 
Eng Hamad Salem Al Ameri, Chief Executive Officer and Managing Director of Alpha Dhabi, commented: “With nearly half the world’s population projected to face water scarcity by 2025, the need for sustainable water solutions has never been more critical. Our partnership with Metito is a decisive step towards addressing this pressing challenge. Together, we are committed to pioneering solutions that not only cater to immediate needs but also ensure a sustainable future for generations to come. This collaboration is more than a strategic business move; it’s a testament to Alpha Dhabi’s dedication to driving impactful change in the water sector and our broader vision of sustainable growth and global impact."
 
Talal Ghandour, Co-CEO of Metito, remarked: “Alpha Dhabi’s investment in Metito underscores the importance of our mission and the value we bring to the table. Together, we aim to address the pressing water challenges, especially in the MENA region, which is the most water-stressed region globally. With 
Metito’s extensive experience across 50 countries and our dedication to innovation and technology, this partnership will bolster our capabilities, allowing us to further our mission and bring sustainable water solutions to regions that need it the most.”
 
Rami Ghandour, Co-CEO of Metito, added: “This partnership is set to unlock vast synergies and to unleash boundless potential. We are poised to make significant contributions to sustainable solutions, especially as the UAE’s Year of Sustainability and COP28 gain traction. Together, our combined expertise and resources position us to drive sustainable growth and shareholder value in the global water sector.”
 
By 2025, an estimated 3.5 billion people could be living in water-scarce regions. The MENA region, home to 7% of the world’s population but just 1% of its freshwater resources, is the most water-stressed globally. A staggering 83% of its population, approximately 500 million people across 25 countries, are using over 80% of their renewable water supply. The World Bank projects that by 2050, water scarcity could cost the MENA region between 6% and 14% of its GDP. These alarming statistics underscore the urgent need for innovative solutions and impact investments in the water sector.
 
In line with the upcoming COP28 in the UAE, Alpha Dhabi has also established Alpha Dhabi Climate Capital, focusing on climate-conscious investments, with Metito as a cornerstone of this initiative.
 
Meanwhile, Gulf Capital has announced that it has exited from its investment in Metito Holdings after a strategic and fruitful 17-year partnership by leading the consortium that sold a majority stake in Metito to Alpha Dhabi Holding.
 
Dr Karim El Solh, Co-Founder and CEO of Gulf Capital, said: “Our journey with Metito started in 2006 with the founding Ghandour family and with the International Finance Corporation (IFC) and, in 2014, with our valued Japanese partners, Mitsubishi Corporation and Mitsubishi Heavy Industries. Our vision was to build a global leader in sustainable water solutions and, after 17 years together, Metito has become the uncontested global water leader operating in over 50 countries. This investment reinforces Gulf Capital’s track record of building global leaders from the Gulf region and of closing successful strategic sales.” - TradeArabia News Service



Tags:

More Finance & Capital Market Stories

calendarCalendar of Events

Ads