Abu Dhabi, UAE: IHC, a global investment company focused on building dynamic value networks, today announced plans to merge its flagship portfolio companies 2PointZero, Multiply Group, and Ghitha Holding into a single, next‑generation investment powerhouse valued at approximately AED 120 billion, creating one of Abu Dhabi's largest listed investment companies.
The merged listed entity will be renamed 2PointZero Group PJSC (2PointZero) and will continue to be listed on the Abu Dhabi Securities Exchange (ADX), uniting diversified platforms across sectors essential to future global growth to accelerate global competitiveness, operational efficiency, and long-term shareholder value.
Highlights
IHC plans strategic merger of its flagship portfolio companies 2PointZero, Multiply Group, and Ghitha Holding to form a next-generation investment holding company powering everyday life and driving long-term growth. The merged entity, with combined assets valued at approximately AED 120 billion, will be renamed 2PointZero and will continue to be listed on the Abu Dhabi Securities Exchange (ADX). The company will focus on the Energy and Consumer sectors, leveraging rising energy demand, AI innovation, global consumer growth, and expanding food security needs to propel its business. This transaction, expected to complete by mid-November, will create one of Abu Dhabi's largest listed investment entities, strengthening IHC's position as a key leader in sustainable value creation.
Strategic Rationale
The merged entity brings together the complementary strengths of three leading investment platforms under IHC, 2PointZero, Multiply Group, and Ghitha Holding, uniting capabilities across the Energy and Consumer sectors, two essential drivers of regional and global growth. The new entity will build a vertically integrated energy platform positioned to deliver sustainable growth and long-term value, while holding leading positions across key consumer categories that anchor everyday life and economic activity, with operations spanning more than 85 countries.
Today's global landscape is marked by synchronized expansion in both energy demand and consumer spending. By 2050, worldwide energy usage is forecast to climb by more than 20%, and over one billion new middle-class consumers are projected by 2030, adding an additional USD 2.4 trillion in annual consumption. To capture these opportunities, the new entity's strategy leverages world-class governance, robust capital, and sector leadership.
Investing in the new company gives shareholders dual access to the dynamic growth and transformation taking place in both energy and consumer sectors. An investment approach built for resilience, geographic reach, and scale, paired with ongoing strategic acquisitions, will unlock new cost, digital, and operational synergies for long-term value creation.
2PointZero
2PointZero is a transformational investment company, holding scalable assets in energy, mining, and financial services. The company acts as an AI enabler and accelerates the global energy transition, driving progress toward a smarter and more sustainable future. Last year, 2PointZero established its Energy & Infrastructure division, ePointZero - a global platform anchored by International Resources Holding (IRH). IRH encompasses Mopani Copper Mines, Alphamin, and key transition minerals such as copper, cobalt, and 3Ts. The company's broader portfolio includes El Sewedy Electric in Egypt, EHC International (with strategic interests in Al Fanar and Fooj), and a diversified energy generation platform advancing integrated clean energy. In the financial sector, 2PointZero's holdings in Lunate, Beltone Holding, Chimera Investment, Alpheya, Citadel, and Sagasse further diversify its value creation across high-growth verticals.
Multiply Group
Multiply Group is one of Abu Dhabi's largest investment platforms, operating across five consumer-focused sectors: mobility, media, apparel, packaging, and beauty, in addition to maintaining a significant energy portfolio. Using an AI-driven investment strategy to boost performance across its portfolio, Multiply has achieved sustained growth, including 8× EBITDA and 5.4× revenue expansion over the past four years. In mobility, Multiply is a major stakeholder in Emirates Driving Company, which recently acquired a 51% share in Dubai's Excellence Premier Investment. In energy, the group's investments cover Kalyon Enerji, with renewable capacity set to reach 2 GW by year-end, and TAQA, one of the region's largest listed integrated utilities. Multiply's media and communications platform features Multiply Media Group, which includes BackLite Media, Media 247, and Viola Communications. In beauty and wellness, Omorfia Group manages more than 130 salons, representing leading regional brands such as N.Bar, 1847, Sisters Beauty Lounge, Tips & Toes, and Bedashing Beauty Lounge. Recently, Multiply has expanded in Europe with two key moves: acquiring a majority stake in Spain's apparel giant Tendam (valued at AED 5.6 billion) and moving to purchase a major stake in Italy's ISEM, a premium packaging manufacturer serving clients such as LVMH, KIKO, Gucci, and L'Oréal.
Ghitha Holding
Ghitha Holding stands as a prominent conglomerate covering agriculture, food production, and distribution. Its subsidiaries include Al Ain Farms, Al Ajban Poultry, Abu Dhabi Vegetable Oil Company (ADVOC), Al Hashemeya, Asmak, Marmum, Mirak Group, NRTC, Zee Stores, and Royal Horizon, each contributing to the UAE's food security and advancement of sustainable agri-food infrastructure. Ghitha also maintains strategic interests in APEX Investments, a diversified holding company operating in services, structures, energy, and investment. By embracing modernization and digital integration, Ghitha continues to enhance efficiency and sustainability along the food value chain, reaffirming its vital position in the UAE's food and consumer ecosystem.
Leadership Commentary
H.H. Sheikh Tahnoon bin Zayed Al Nahyan, Chairman of IHC:
"This merger reflects IHC's continued commitment to building globally competitive platforms that drive sustainable value for Abu Dhabi and beyond. By combining three of our most strategic entities, we advance a structure that enhances long‑term growth, scalability, and resilience across vital global sectors. It reinforces IHC's role as an architect of transformation, harnessing AI and dynamic value networks to shape industries of tomorrow."
H.H. Sheikh Zayed bin Hamdan bin Zayed Al Nahyan, Chairman of 2PointZero:
"2PointZero was founded to invest in and accelerate the sectors that define the future. This transformative merger continues that mission - driving the energy transition, enabling AI, and empowering communities and consumers. It reaffirms our long‑term vision to build a globally agile investment platform that bridges opportunity, innovation, and sustainability."
Syed Basar Shueb, Chairman of Multiply Group:
"This milestone transaction marks the next evolution of Multiply Group. Combining complementary businesses within a unified structure accelerates our expansion, drives operating efficiency, and strengthens diversified shareholder returns. It enables us to scale high‑growth verticals and apply AI‑driven performance strategies that redefine value creation across sectors."
Mohammed Somar Ajalyaqin, Chairman of Ghitha Holding:
"Ghitha Holding has long advanced the UAE's food security agenda and reinforced supply‑chain resilience. This merger builds on that legacy - broadening our capacity to invest and grow across the agri‑food ecosystem. By aligning with 2PointZero and Multiply Group, we enhance national sustainability and solidify our leadership in food and resource security."
Indicative Transaction Terms
Transaction executed through a share‑swap mechanism. Multiply Group to issue approximately 23.36 billion new shares to acquire, from IHC-related entities, 21.60 billion shares of 2PointZero (100% of their stake) and 1.77 billion shares of Ghitha Holding (83.9% of their stake). Share capital to increase from AED 2.8 billion to AED 8.64 billion. Post‑completion, the merged entity will have 34.56 billion shares outstanding. Combined asset base estimated at AED 120 billion.
Approvals & Timeline
Subject to shareholder and regulatory approvals. Completion expected by mid‑November 2025. Additional details to be announced upon conclusion of review procedures.
The formation of 2PointZero underscores IHC's long-term vision to create dynamic value networks through innovation, scale, and disciplined growth, reinforcing its role as a catalyst of enduring value creation for the UAE and the global economy.
About IHC:
Established in 1999, IHC has become the most valuable holding company in the Middle East and one of the world's largest investment firms, with a market capitalization of AED 881.6 billion (USD 239.9 billion). Since then, it has transformed to represent a new generation of investors. IHC's commitment to sustainability, innovation, and economic diversification spans over 1,300 subsidiaries, driving growth across industries like Asset Management, Healthcare, Real Estate, Financial Services, IT, and more.
IHC continually looks beyond the stand-alone value of its assets for opportunities, stepping outside of traditional approaches and artificial barriers to unlock opportunities across its portfolio, enabling sector-agnostic Dynamic Value Networks and creating results that are often much greater than the sum of their parts.
At IHC, we take our responsibility to shareholders, customers, and employees seriously. Our commitment to responsible investment ensures that we create sustainable value by staying connected to the communities we serve, making a positive difference with every investment.
www.ihcuae.com
About 2PointZero:
2PointZero, a subsidiary of IHC was founded in 2023 as a transformational investment platform focused on making strategic investments in emerging technologies and future-sustaining businesses to create a globally diversified and resilient portfolio.
2PointZero brings together a suite of innovative and established UAE subsidiaries, including Chimera Investments, Lunate Capital, Beltone, and ePointZero, which includes Sagasse and International Resources Holding (IRH), all under one transformative umbrella, placing 2PointZero at the forefront of key sectors including financial services, consumer goods, mining resources, technology and energy. Our Dynamic Value Network is sector agnostic, allowing it to connect capabilities across our portfolio to unlock new pathways for growth and create measurable value for investors while empowering communities, fostering sustainable ecosystems, and driving groundbreaking technological advancements.
www.2PointZero.com
About Multiply Group:
Multiply Group PJSC is an Abu Dhabi-based investment holding company that globally invests and operates in transformative, cash-generating businesses.
Known for its trademark growth mindset, Multiply Group will continue to deploy capital across its two distinct arms, both of which follow a disciplined approach to investing and ensure consistent, sustainable value creation for our shareholders in the short-, medium- and long-term:
Multiply, the investments and operations in long-term strategic verticals, currently investing and operating in Mobility, Energy, Media & Communications, Wellness & Beauty, Retail & Apparel, and Packaging. Anchor investments provide long-term recurring income, through which bolt-on acquisitions are made.
Multiply+, extends our global reach investing across sectors and asset classes with one aim: unlocking returns through disciplined capital allocation.
For more information, visit www.multiply.ae
About Ghitha Holding:
Ghitha Holding PJSC is a private joint stock company incorporated in the Emirate of Abu Dhabi, United Arab Emirates. It operates as a subsidiary of International Holding Company (ADX: IHC). Ghitha emerged as an investment holding company; with its portfolio of subsidiaries and associates consisting of: Al Ain Farms, Marmum Dairy Farm, Al Jazira Poultry Farm, Arabian Farms, Al Ajban Poultry, Alliance Food Company, Zee Stores International, Agrinv (Al Hashemeya), Royal Horizon Holding, Abu Dhabi Vegetable Oil Company, Mirak, NRTC Group, Apex Investment PSC (ADX: APEX), Invictus Investments (ADX: INVICTUS), Anina Culinary, Al Jaraf Fisheries, International Food Industries, and HarvEst Foods. The Group is collectively engaged in dairy, poultry, fish, agriculture, food commodities, edible oils, trading and distribution.
www.ghitha.com
Media Contacts
Simon Hailes
Managing Director, Head of Edelman Smithfield Middle East
+971 50 973 1173