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ADNEC Group, a subsidiary of Modon Holding, will acquire 100% of the share capital of Abu Dhabi’s Royal Catering Services.
The financial terms of the deal have not been disclosed.
Royal Catering is expected to boost ADNEC’s Capital Catering business and expand its focus on serving the aviation, defence, and healthcare sectors. The company said the deal will also allow it to increase its production capacity by adding several catering facilities to its asset base.
ADNEC said the acquisition will also help the company’s broader growth agenda by serving larger contracts.
Modon handles the design, construction, and management of real estate assets, with UAE sovereign investor ADQ named a majority shareholder, along with Abu Dhabi’s largest listed company, IHC.
(Writing by Bindu Rai, editing by Seban Scaria)
