- 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.
Established in 2018, ADQ is an Abu Dhabi-based investment and holding company with a broad portfolio of major enterprises. Its investments span key sectors of the UAE’s diversified economy including energy and utilities, food and agriculture, healthcare and life sciences, and mobility and logistics, amongst others. As a strategic partner of Abu Dhabi’s government, ADQ is committed to accelerating the transformation of the Emirate into a globally competitive and knowledge-based economy.
For more information, visit adq.ae or write to email@example.com. You can also follow ADQ on Twitter, Instagram and LinkedIn.
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