Abu Dhabi – Mubasher: ADQ, Abu Dhabi-based holding company, has submitted a proposal to Abu Dhabi National Hotels (ADNH) for a potential merger.
The proposal was made for a potential merging between one of ADQ's subsidiaries, Abu Dhabi National Exhibitions Company (ADNEC), and ADNH, according to a bourse filing on Wednesday.
Following the transaction, ADQ would own around 54.98% of ADNH, and the combined group would have assets of about AED 20 billion ($5.45 billion).
ADNH's board is considering the proposal and will announce later any development in this regard.
