Al Qudra Holding PJSC (ADX:ALQUDRA) agreed to acquire Al Tamouh Investments LLC from International Holding Company PJSC (ADX:IHC) on December 5, 2021. As per terms of transaction, Consideration will be paid in the unsecured mandatory convertible bonds worth AED 2.244 billion, which will be converted into issued share capital of AI Qudra. Transaction is subject to regulatory approval.

Transaction is subject to shareholder approval of Al Qudra Holding PJSC. As of December 13, 2021, International Holdings Company has formally approved the merger of its subsidiary Al Tamouh Investments with Al Qudra Holding.