Multiplay Shareholders Approve Acquisition of 2 Point Zero and Ghithaa Holding

Abu Dhabi-based investment holding company Multiplay Group received shareholder approval for a major expansion that will triple its capital and reshape it into one of the region's largest diversified investment platforms. The deal involves acquiring 2 Point Zero Holding and Ghiza Holding through a share swap arrangement.

Shareholders voted in favor of all resolutions during the general assembly meeting. The acquisitions are part of Multiplay's broader strategy to expand its asset base and create better integration across its investment portfolio.

Here's how the numbers break down: Multiplay will issue 23.36 billion new shares to complete both acquisitions. This will boost the company's capital from 2.8 billion dirhams to 8.64 billion dirhams - more than tripling its size.

But the changes go beyond just money. The company will rebrand itself as "2 Point Zero Group" and expand its board from five to nine members. These moves signal a complete transformation of the business structure.

The merger creates a unified platform focused on two key sectors: energy and consumer goods. The combined entity will also have a broad alternative investment arm, giving it multiple ways to generate returns.

"Today's shareholder approval reflects their confidence in Multiplay Group's strategic direction," said Syed Basr Shoaib, Chairman of Multiplay Group's Board of Directors. He added that acquiring 2 Point Zero and Ghiza Holding will strengthen their investment platform and help them capture promising growth opportunities in important sectors.

The general assembly gave the board full authority to carry out all necessary procedures to implement the approved resolutions. This includes executing the share swaps, amending the company's bylaws, and listing the new shares on the Abu Dhabi Securities Exchange once regulatory requirements are met.

For investors, this deal represents a significant shift in the UAE's investment landscape. The merged entity will have substantially more capital to deploy across different sectors and geographies. The focus on energy and consumer goods also positions the company to benefit from two sectors that are seeing major changes in the Middle East region.