Gate Capital News Letter | Issue 754

Abu Dhabi’s Mubadala Capital has submitted a binding cash offer to acquire Pierre et Vacances S.A., for approximately €900million ($1 billion).

Mubadala is offering €1.90 per share, with the possibility of top-up of €0.10 per share if it manages a squeeze-out of all shareholders and delist from the Euronext Paris exchange, the French company said in a statement.

Dubizzle Group Announces Strategic Partnership and Investment in Tern, the UAE’s Rental Rewards Platform

Dubizzle Group, the leading online classifieds platform in the Middle East, today announced a strategic partnership and investment in Tern, the UAE’s first-of-its-kind rental rewards platform. The partnership will bring a more flexible, digital, and rewarding rental payment experience to tenants, landlords, and agents across the UAE.

Red Sea International Company said its subsidiary, Fundamental Installation for Electric Work Company (First Fix), has signed a subcontract with Salini Saudi Arabia to execute mechanical, electrical, and plumbing (MEP) works for a project in Diriyah.

The subcontract is valued at 352.6 million Saudi riyal ($93.93 million), the company said in a statement to the Saudi stock exchange.

Real estate company Blacksand and Marriott International signed a SR5 billion ($1.33 billion) agreement to develop 10 hotels in Saudi Arabia at the Future Hospitality Summit in Riyadh.

Investcorp, the Bahrain-based alternative investment firm, has acquired a majority stake in Smart Managed Solutions, a mechanical and electrical facilities management firm in the UK. Details of the stake sale and the financial terms have not been disclosed.

London-based Smart is a provider of critical M&E maintenance services, including HVAC, electrical, fire, water and gas systems

Japan’s ITOCHU Corporation has taken a stake in Abu Dhabi-based Sirius Aviation Capital. Sirius Aviation Capital Holdings is an aviation investment manager, headquartered in ADGM Abu Dhabi.

Details of the shareholding structure and the financial terms have not been disclosed.

Qatar’s sovereign wealth fund is placing a $75 million bet on ​aerospace precision ⁠parts maker Doncasters Group ahead of ‌its U.S. listing.

The Qatar Investment Authority (QIA) agreed to buy ​the shares at the IPO price, according to an ​SEC filing ​on Monday.

ADES Holding Co. said its wholly owned indirect subsidiary, ADES Saudi Ltd., signed a binding agreement on June 24 to acquire Saudi Arabian Saipem Ltd. (SAS), a subsidiary of Saipem International B.V., for SAR 1.07 billion ($285 million), subject to customary adjustment mechanisms.

UAE-based proptech and fintech startup Rentify has raised $2 million in a seed funding round to support the launch of Earn AI, an artificial intelligence platform designed to automate rental revenue management for landlords and property managers.

Arcapita Group Holdings, the global alternative investment firm, has signed a partnership deal with Hines, one of the world’s largest real assets investment managers, to jointly explore the creation of an institutional-grade platform focused on industrial and logistics real estate assets across the Gulf region.

Keiretsu Forum MENA, the regional chapter of the global angel investor network ‘Keiretsu Forum’, has entered into a strategic partnership with FinBursa to strengthen its startup advisory, investor engagement, and deal management capabilities across the MENA region.

National Gas and Industrialization Holding Co. (GASCO) said it completed today, June 24, the regulatory procedures related to the acquisition of a 50% stake in JACKO Gases.

The agreement valued JACKO Gases at SAR 125 million on a pre-acquisition basis. The company’s activities include production, packaging, and distribution of industrial and medical gases, as well as associated logistics services.

Standard Chartered is exploring options to sell its retail and wealth franchise in Bahrain as the UK-headquartered lender focuses on bigger markets to scale its business.

Oman Investment Authority (OIA), alongside SeaTown Holdings International, a unit of Singapore’s Temasek Holdings Pte, and Vietnam Oman Investment have invested in a $255 million private credit financing for Vietnam’s Vinpearl JSC.

AD Ports Group, the Abu Dhabi-based ports and logistics operator, has increased its stake in Global Feeder Shipping (GFS) to 81% after acquiring an additional 30% holding for AED 1.1 billion ($300 million).

Egypt’s Midar for Investment and Urban Development (Midar), the master developer of Mostakbal City and Mada in East Cairo, has signed a strategic partnership agreement with UAE-based Majid Al Futtaim to develop a large-scale mixed-use project within the Mada destination.

Saudi Arabia-headquartered F&B Saas platform Foodics has completed the full acquisition of Greece-based artificial intelligence company Norma AI, following its initial investment in the company during the first quarter of 2025, to accelerate the development of its dedicated AI division.

Abu Dhabi healthcare provider Burjeel Holdings has set up a $1.5 billion Sukuk programme as it looks to raise funds from international capital markets and support its future expansion plans.