Abu Dhabi’s royal family in talks to buy stakes in Amanat Holdings

By Backend Office, Desk Reporter
    Representational Image

    The organization sponsored by a Abu Dhabi’s royal family member is in talks to buy stakes in Amanat Holdings PJSC, an investment firm with investments in health and education.

    One of the companies led by Sheikh Tahnoon Bin Zayed Al Nahyan is in early-stage negotiations to invest in Amanat, which currently has a market value of about $524 million. It is unclear which organization managed Sheikh Tahnoon would be used for the possible transaction.

    Abu Dhabi who is the holder of about six percent of the world’s oil reserves recently accepted to buy a stake worth more than $1 billion in one of the Middle East’s largest hypermarket chains as it seeks to expand its economy away from crude. Any transaction would only add to the buying spree by companies under Sheikh Tahnoon’s control as the Abu Dhabi uses the coronavirus pandemic to gather stakes in key industries such as food supply and health-care.

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