2 Days
Source:
Sky News
2 Point Zero discontinues Taqa for Lemad
2 Point Zero Group, listed on the Abu Dhabi Securities Exchange, announced the completion of the full sale of its 7.29% stake in Abu Dhabi National Energy Company (Taqa) to the Abu Dhabi Energy Foundation, a subsidiary owned by Al Emad Holding. This transaction aims to strengthen the group's financial position and enhance its financial resilience by directing the proceeds towards improving its capital structure and supporting investments across the energy, mining, consumer, food, and packaging sectors. The group’s financial strength is evident through its cash balance of 9.5 billion AED and a low debt ratio, providing significant flexibility for expansion and the achievement of sustainable high returns.
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