Abu Dhabi – Mubasher: International Holdings Company will allocate AED 2 billion ($540 million) for acquisition processes, the company’s CEO and Managing Director, Syed Basar Shueb, told Bloomberg.
Shueb said that the company, which has become the UAE's fifth-most-valuable listed company, has held early talks for a deal involving a private social media platform.
Meanwhile, the CEO and managing director further remarked that the company is planning to acquire some existing solar facilities and to invest in a large solar plant in Europe.
It is noteworthy to mention that in the first half (H1) of 2020, the company's net profits jumped to AED 813.53 million, compared to around AED 10.77 million in the year-ago period.
