Abdulatif Alissa Group acquires stake in Tania

Updated 05 April 2014
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Abdulatif Alissa Group acquires stake in Tania

Abdulatif Alissa Group Holding Company has announced that it concluded an agreement making it a 35 percent shareholder in Tania Bottled Water Company, one of the leaders in the bottled water industry in Saudi Arabia.
The agreement was signed by Abdulmohsin Abdulatif Alissa, chairman of Abdulatif Alissa Group Holding Company and Shuwaimi bin Ajyan Al-Kattab, CEO of Tania Bottled Water Company Ltd. The event was attended by senior executives from Abdulatif Alissa Group Holding Company, Tania and Wasatah Capital, the financial adviser for Abdulatif Alissa Group in the transaction.
The company chairman indicated that this deal falls in line with the group’s strategy to invest in companies with a strong competitive edge and high potential for growth in key economic sectors in the Kingdom, such as the food and beverage sector “where Tania is considered a pioneer, and this partnership will be an important step to achieve our group objectives in growth and development.”
Al-Kattab confirmed that Tania’s prominent position in manufacturing and distribution of bottled water, and Abdulatif Alissa Group’s investing heritage and expertise in managerial, financial and corporate governance best practices, were the driving forces behind creating a compatible vision for consummating this partnership, which will in turn reflect positively on Tania’s business development and the bottled water industry in the Kingdom.
He added: “We consider this strategic partnership with Abdulatif Alissa Group Holding Company an opportunity to cooperate and exchange experiences and to open doors for us to invest into new industrial opportunities. We ask Allah to bless this new partnership to benefit the people and the nation and become a support for food security in the Kingdom.”
Abdulatif Alissa Group CEO Nasser Al-Qahtani stated that Tania has a highly qualified management team that was successful in building and expanding its business in a very short time, and today it’s considered a leader in its field. He explained that this partnership will reinforce our presence in the private equity asset class in the Kingdom through investing in promising sectors such as the food and beverage sector, especially bottled water industry which will witness significant growth during the next few years, due to population growth, and demographic and lifestyle changes such as the increasing health awareness within the community.
He added: “Alissa Group, through the board of directors of Tania and in cooperation with its executive management, aims to implement the highest standards of corporate governance in the company and develop its business, utilizing the financial and managerial expertise of the group. We are looking for more cooperation with our partners in Tania to develop its future strategic plans.


Abu Dhabi aims to lure start-ups with investment in new technology hub

Updated 24 March 2019
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Abu Dhabi aims to lure start-ups with investment in new technology hub

  • The initiative will help Abu Dhabi reduce reliance on oil
  • Mubadala hopes to attract Chinese and Indian companies

ABU DHABI: Abu Dhabi will commit up to $272 million to support technology start-ups, it said on Sunday, in a dedicated hub as part of efforts to diversify its economy.

US tech giant Microsoft will be a strategic partner, providing technology and cloud services to the businesses that join the hub as the capital of the United Arab Emirates continues its push to reduce reliance on oil revenue.
Abu Dhabi derives about 50 percent of its real gross domestic product and about 90 percent of central government revenue from the hydrocarbon sector, according to ratings agency S&P.
The emirate launched a $13.6 billion stimulus fund, Ghadan 21, in September last year to accelerate economic growth. Ghadan means tomorrow in Arabic. The new initiative, named Hub 71, is linked to Ghadan will also involve the launch of a $136 million fund to invest in start-ups, said Ibrahim Ajami, head of Mubadala Ventures, the technology arm of Mubadala Investment Co.
The goal is to have 100 companies over the next three to five years, Ajami said. “The market opportunities in this region are immense,” he added.
Mubadala, with assets of $225 billion and a big investor in tech companies, will act as the driver of the hub, located in the emirate’s financial district.
Softbank will be active in the hub and support the expansion of companies in which it has invested, Ajami said, adding that Mubadala is also aiming to attract Chinese and Indian companies, among others.
Mubadala which has committed $15 billion to the Softbank Vision Fund, plans to launch a $400 million fund to invest in leading European technology companies.
Incentives mapped out by the government include housing, office space and health insurance as part of the $272 million commitment, Ajami said.
Abu Dhabi will also announce a new research and development initiative on Monday linked to the Ghadan 21 plan, according to an invitation sent to journalists.