Multiply Group Proposes Merger With 2PointZero, Ghitha Holding Via Share Swap

KUALA LUMPUR, Oct 16 (Bernama) -- Multiply Group, the Abu Dhabi-based investment holding company, has announced board approval for a major share swap deal to acquire 2PointZero and Ghitha Holding, a move that could reshape its investment portfolio and boost its capital base to 8.64 billion Emirati dirhams. (100 Emirati dirhams = RM115.10)

In a statement, Multiply said the proposed transaction, still awaiting shareholder and regulatory nods, would see the group issue approximately 23.36 billion new shares, consolidating assets under a single listed platform.

“This transaction represents a natural evolution of our portfolio strategy, designed to optimise scale and strengthen the platforms we have built over the past years,” said the group Chairman, Syed Basar Shueb, highlighting the strategic alignment and portfolio efficiency expected from the merger.

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Meanwhile, its group Chief Executive Officer and Managing Director, Samia Bouazza emphasised the broader vision, stating that the merger goes beyond balance sheet consolidation—it is building a global investment entity spanning 85 countries and serving a billion people.

“Our focus is to grow our bottom line both organically and inorganically, unlock value through AI, and deliver consistent, long-term returns for our shareholders,” she said.

Bouazza added that the combined entity would be valued at around 120 billion Emirati dirhams, with diversified operations across logistics, packaging, beauty, media, and more—positioning Multiply as a leading global investment group.

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2PointZero contributes scalable assets in energy, mining, and artificial intelligence (AI)-driven financial services, while Ghitha Holding’s broad footprint in food production and distribution supports national food security.

Together, these businesses represent complementary strengths across the energy and consumer sectors, two fundamental pillars of every economy, powering everyday life and advancing the global transition toward cleaner, smarter systems.

This strategic acquisition via reorganisation remains subject to shareholder and regulatory approvals, with additional details to be disclosed following completion of the review process.

-- BERNAMA