Multiply Group to acquire 2PointZero and Ghitha Holding through share swap deal

The Board of Abu Dhabi’s Multiply Group has approved a proposal to acquire 2PointZero and Ghitha Holding through a share swap transaction.

Multiply Group would offer shares to acquire the two companies, followed by the issuance of new shares to complete the transaction, which is subject to shareholder and regulatory approvals.

Multiply Group plans major acquisition deal

Abu Dhabi-based 2PointZero is an investment company with scalable assets in energy, mining, and financial services, serving as an AI enabler and energy transition accelerator. Ghitha Holding is into agriculture, food production, and distribution operations that play a vital role in food security in the UAE and beyond.

Together, these businesses represent complementary strengths across the energy and consumer sectors. The transaction is expected to enhance operational and investment efficiency across Multiply Group’s portfolio by consolidating complementary assets under a single listed platform.

Syed Basar Shueb, Chairman of Multiply Group, commented: “This transaction represents a natural evolution of our portfolio strategy, designed to optimise scale and strengthen the platforms we have built over the past years.

“Multiply’s offer to acquire 2PointZero and Ghitha reflects our approach to value creation and long-term focus on building globally competitive investment entities.”

Samia Bouazza, Group CEO and Managing Director of Multiply Group, added: “This strategic merger is more than a consolidation of balance sheets…it’s the convergence of vision, purpose, capital and exceptional teams. Together, we are forming an AED120 billion (US$32.7 billion) balanced and diversified investment group spanning energy, food, logistics, packaging, mining, apparel, media, mobility and beauty.

“Through these companies, spread across 85 countries, we aim to serve 1 billion human beings, globally. Our focus is to grow our bottom line both organically and inorganically, to unlock value through AI, and to deliver consistent, long-term returns.”

Multiply Group will issue approximately 23.36 billion new shares to acquire 2PointZero and Ghitha Holding, increasing its share capital from AED2.8 billion (US$760 million) to AED8.64 billion (US$2.35 billion).

Upon completion, the merged entity will comprise 34.56 billion shares, marking a significant expansion of Multiply Group’s capital base. Additional details of this acquisition, via reorganisation, will be disclosed following completion of the review process.