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Asharq Al-Awsat

Business

Asharq Al-Awsat

Abu Dhabi's ADQ Makes Merger Offer to Abu Dhabi Aviation

ADQ ADA Abu Dhabi GAL

General view of Abu Dhabi, United Arab Emirates, January 3, 2019. REUTERS/ Hamad I Mohammed/File Photo/File Photo

Abu Dhabi sovereign wealth fund ADQ said on Monday it had made an offer to take a controlling stake in Abu Dhabi Aviation and merge the helicopter operator with ADQ stakes in Etihad Engineering, AMMROC and GAL to create a "globally competitive aviation business" with about 9.4 billion dirhams ($2.56 billion) in assets.

ADA said in a stock exchange filing it would hold a board meeting on Wednesday to discuss the offer.

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