ADQ, ADNEC Group sign definitive agreements over hospitality business in Egypt

Dubai [UAE], January 13 (ANI/WAM): ADQ, an Abu Dhabi-based investment and holding company, and ADNEC Group today announced the signing of definitive agreements for the strategic acquisition of a 40.5 per cent stake in Egypt-based Talaat Moustafa Group Holding's hospitality arm, ICON Group through a capital increase.

ADQ and ADNEC will invest through a special purpose vehicle, with 49 per cent equity ownership by ADQ and 5