Royal Group assets to be transferred into 2PointZero, Abu Dhabi's IHC says

$FILE PHOTO: Buildings are seen at Sowwah Square on Marayah Island in Abu Dhabi\\'s central business district May 7, 2013. REUTERS/Ben Job/File Photo Image used for illustrative purpose. , Reuters$

FILE PHOTO: Buildings are seen at Sowwah Square on Marayah Island in Abu Dhabi's central business district May 7, 2013. REUTERS/Ben Job/File Photo Image used for illustrative purpose.
Reuters

The company will own 87% of 2PointZero, IHC said

Hadeel Al Sayegh, Reuters News

January 3, 2024

PHOTO
FILE PHOTO: Buildings are seen at Sowwah Square on Marayah Island in Abu Dhabi's central business district May 7, 2013. REUTERS/Ben Job/File Photo Image used for illustrative purpose.

DUBAI - Abu Dhabi's IHC said on Wednesday that assets being transferred into newly formed 2PointZero will come from Royal Group, its major shareholder.

The company will own 87% of 2PointZero, IHC said in response to questions from Reuters.

IHC did not state who will own the remaining 13%.

Royal Group owns about 61% of IHC.

(Reporting by Hadeel Al Sayegh; editing by Jason Neely)

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