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Abu Dhabi-based investment holding company Alpha Dhabi Holding has acquired a 25% stake in Gordon Technologies, which provides technology to the oil and gas industry for 602 million dirhams ($164 million).
Chimera Capital, an Abu Dhabi investment fund, acted as sole financial advisor on the transaction, Alpha Dhabi said on Wednesday in a regulatory filing on the Abu Dhabi Stock Exchange where its shares trade.
Hamad Salem Al Ameri, CEO and Managing Director of Alpha Dhabi, said the transaction came as part of the company's commitment grow its portfolio through investment in innovation and technology.
Alpha Dhabi will support Gordon Technologies, which provides MWD (Measurement While Drilling) technology to the oil and gas industry, in its expansion plans in the Middle East market.
The Emirati holding company has 25 subsidiaries under five major verticals - industrials, healthcare, capital, construction and hospitality.
(Writing by Brinda Darasha; editing by Seban Scaria)
