UAE - Mubasher: ADQ has withdrawn its proposed offer to merge between one of its subsidiaries, Abu Dhabi National Exhibitions Company (ADNEC), and Abu Dhabi National Hotels (ADNH), according to a bourse filing on Tuesday.
In June, the Abu Dhabi-based holding company has submitted a proposal to ADNH for a potential merger.
If the transaction had been completed, ADQ would have owned around 54.98% of ADNH, and the combined group would have had assets of about AED 20 billion.
