Alpha Dhabi Holding has boosted its stake in energy and marine services firm NMDC Group, reiterating its commitment to supporting the emirate's industrial strategy.
The unit of Abu Dhabi's International Holding Company bought AD Ports Group's 9.77 per cent stake, equivalent to 82.5 million shares, for Dh1.6 billion ($435.7 million), it said on Thursday. The deal means it owns 76.68 per cent of NMDC's shares.
Alpha Dhabi said the move was a vote of confidence for NMDC's strategy and ambitious expansion into new markets.
The acquisition "underscores our commitment to investing in high-impact industrial verticals that support Abu Dhabi’s diversity and inclusion agenda", said managing director and group chief executive Hamad Al Ameri.
"Our strategy is rooted in identifying scalable opportunities that align with national priorities and global trends, ensuring that industrial growth is matched by environmental responsibility and the empowerment of all segments of our society."
The move is also the third such sale involving AD Ports' non-core assets in 2025 after selling its logistics assets to Aldar Properties for Dh570 million earlier this month and its stake in Khalifa Economic Zones Abu Dhabi's Al Mamourah district to Mira Developments for Dh2.47 billion in October.
The latest sale reflects how AD Ports is "intelligently managing its assets and value creation strategies, with the proceeds strengthening the group’s financial position and capital structure", managing director and group chief executive Mohamed Al Shamisi said.
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"In the future, we will continue to actively manage our asset base to unlock and maximise value," he said.
Abu Dhabi continues to diversify its economy, increasing its focus on its industrial capabilities, positioning it as a key driver to enable progress and create jobs.
The government has also introduced more measures to attract international investors, boost its competitiveness and improve the ease of conducting business.
The UAE capital's economy grew by nearly 4 per cent annually to Dh306.3 billion in the second quarter of this year, boosted by strong performance in its non-oil sector.
This came on the back of the Abu Dhabi Industrial Strategy, which has driven a 23 per cent increase in industrial GDP since 2022 and increased the number of industrial enterprises by 19.4 per cent.
The latest Alpha Dhabi acquisition "aligns with Abu Dhabi’s vision for a knowledge-based, innov
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