https://adgully.me/post/2143/dubais-sukoon-completes-acquisition-of-majority-stake-in-ascana

Dubai’s Sukoon completes acquisition of majority stake in Ascana

Dubai: Dubai listed Sukoon, formerly known as Oman Insurance Company, has completed the acquisition of 93.0432% of the share capital of Arabian Scandinavian Insurance Company P.S.C. (ASCANA) by way of special deal through Dubai Clear.Sukoon had signed a share purchase agreement in December 2022 to acquire a majority stake of more than 93% in the DFM-listed takaful insurer.In a statement, Sukoon also confirmed its intent to submit an offer to acquire the shares of the remaining shareholders of ASCANA, as soon as it receives the regulatory approvals.The insurer did not disclose the financial value of the acquisition.
https://adgully.me/post/2014/green-corp-takes-a-stake-in-badia-farms-to-expand-sustainable-food-production

Green Corp takes a stake in Badia Farms to expand sustainable food production

Manama, Bahrain: Bahrain-based agribusiness platform Green Corp has acquired a stake in Badia Farms, the GCC’s first vertical farming company supplying gourmet produce to hotels and discerning consumers, to grow its sustainable food production projects across the GCC.The boost from Green Corp and its ultimate owner, leading Shari’ah-compliant global alternative investment company Gulf Islamic Investments (GII), will enable Badia Farms to expand its advanced production models and pesticide-free farms into Saudi Arabia and Bahrain, enhancing regional food production opportunities significantly.Green Corp takes a stake in Badia Farms to expand sustainable food production across the GCC. Image courtesy: Gulf Islamic Investments LLCEstablished in 2016, Badia Farms’ sustainable farming techniques produce nutritious fruits and vegetables without sunlight or soil. Its energy-efficient methods use up to 90% less water than traditionally-grown crops, with significantly higher yields.Omar Al Jundi, Badia Farms’ CEO, commented, “Green Corp’s partnership with Badia Farms demonstrates the strength of local backing for home-grown companies to resolve regional and global challenges. This funding provides Badia Farms with powerful means to enhance healthy domestic food production in the GCC. We look forward to providing premium, locally-produced fruits and vegetables using our high-tech farms across Saudi Arabia and Bahrain.Saleh AlBelushi, CEO of Green Corp, added, “Badia Farms fits perfectly into Green Corp’s regional development plan for food production and processing. Its fine products will be a success in Saudi Arabia and Bahrain, as they have been in the UAE. Badia Farms also shares our strong focus on sustainability, as we look for opportunities to develop sustainable agricultural, aquaculture, food processing and production projects across the Gulf Co-operation Council (GCC). Green Corp would welcome additional partners to develop these regional food sustainability plans together”.
https://adgully.me/post/2013/apco-worldwide-acquires-dubai-based-ngc-international-advisory

APCO Worldwide acquires Dubai-based NGC International Advisory

APCO Worldwide has acquired NGC International Advisory—multinational agency based in Dubai, specialising in public policy, government affairs and regulatory affairs in the MENA region—and Strategic Advice—Italy-based public affairs firm—APCO CEO Brad Staples announced today.“I sincerely welcome our NGC and Strategic Advice colleagues to APCO and look forward to learning from their regional and global expertise and insight, on which many clients across industries, sectors and regions have relied,” Staples said.NGC is powered by a team of experts with collective experience of nearly a century, serving clients across the region with operations in the United Arab Emirates, the Kingdom of Saudi Arabia, Kuwait, Egypt, Jordan and Pakistan. NGC Managing Partner Mohamed Bahaa will serve as NGC International Advisory’s CEO and APCO’s managing director of public affairs in the MENA region.“APCO and NGC share deeply rooted values—prioritizing dedication, expertise, passion, equality and diversity—and this common bond makes us stronger collectively,” Bahaa said. “The practice of public affairs is a fairly nascent one in the dynamic MENA region, but one that is critically important to multinational companies and other clients looking to align their objectives with key government priorities, secure their permission to operate and achieve their goals.”Mamoon Sbeih, president of APCO’s MENA region, said, “this acquisition further reinforces APCO’s public affairs offering in the MENA region—providing clients with enhanced public policy advisory and support, government relations and communications management, regulatory affairs support and management, policy and regulation monitoring, industry groups and associations management and executive training programs.”Strategic Advice is an established partner for companies seeking to understand and manage political scenarios and advance their objectives through multistakeholder campaigns. As an independent, non-partisan consultancy, it provides impartial analysis to inform clients and help them reach key decision-makers—at national and local levels—through customized offers tailored to their needs.“I am delighted to return to APCO, where I started my career more than 20 years ago,” Strategic Advice’s founder Gabriele Cirieco said. “Now, more than ever, in a quickly changing world, APCO’s presence in Brussels and in other international hubs is key for Italian companies. Joining forces with APCO allows us to provide clients with presence and support where critical decisions are now made.”Paolo Compostella, president of APCO’s Europe region, said, “I am delighted to welcome Gabriele and all other Strategic Advice colleagues to APCO. It is a welcome return and an injection of additional insights and expertise to a team that has been experiencing extraordinary growth for over a decade. Thanks to our new colleagues we are further deepening APCO’s roots in the Italian ecosystem and strengthening our networks in key businesses, industries and across national and regional institutions. The acquisition was a strategic investment in our core service of planning and executing multistakeholder campaigns that are truly integrated at European and global levels.”For nearly 40 years, APCO has served as a trusted advisor and partner for organizations from around the world seeking to understand, anticipate and respond to the most complex policy issues. APCO’s deep and long-standing relationships with decision-makers and advocacy groups across regions help deliver policy results and drive impact. APCO provides clients with:Insight: policy and political intelligence, legislative and regulatory tracking, stakeholder mapping, landscape analysis and issues monitoring;Strategic Counsel: advocacy and lobbying strategy, relationship building and management, message creation and thought leadership development; andEngagement/Strategic Positioning: grassroots and grasstops advocacy and top-tier media relationships.The addition of NGC and Strategic Advice continues the recent expansion of APCO’s advisory capabilities. In March, APCO made a strategic push into financial communications with the acquisition of Camarco—a London-based financial communications firm, elevating APCO’s C-suite advisory capabilities and spearheading an ambitious move to extend its counsel to stakeholders in the capital markets arena—and added deep change, transformation and employee engagement expertise with the acquisition of Gagen MacDonald—a Chicago-based human-focused transformation and consulting firm, joining two independent and pioneering woman-owned companies together to bring deeper stakeholder insights and expertise to help organizations achieve their vision for positive change and transformation.
https://adgully.me/post/1986/e-enterprise-to-acquire-a-majority-stake-in-beehive

E& enterprise to acquire a majority stake in Beehive

Dubai: e& enterprise, part of e&, announced the signing of a binding agreement to acquire a majority stake in Beehive, MENA’s leading peer-to-peer digital platform to tap into opportunities in the Small and Medium Enterprise (SME) lending market.Beehive, founded in 2014, leads the crowdfunding platform space in the UAE, with operations in KSA and Oman. It connects creditworthy SMEs seeking finance with investors, both private and institutional, offering conventional as well as Sharia compliant loans. The company recently reached the milestone of facilitating over AED 1.5 billion worth of loans.With this acquisition, e& enterprise will be able to provide an innovative lending solution to address the $250 billion SME credit gap1 across the GCC region combining its strong brand positioning with a Fintech platform. This also marks the next step in e& enterprise’s expansion as the move demonstrates its commitment of opening new avenues of growth across the UAE and in the region, while enabling Beehive to scale its business and expand its offerings.The acquisition is in-line with UAE’s National Agenda for Entrepreneurship which aims to establish the country to become an entrepreneurial nation by 2031.Salvador Anglada, CEO, e& enterprise commented: “The acquisition of Beehive’s digital lending platform marks the second step in e& enterprise’s journey in the Fintech space, after the launch of UAE Trade Connect in 2021. SMEs are important drivers of the economy and there is a need more than ever to support their unique financing needs. With Beehive, we have the right technological innovation to accelerate on our agenda in the UAE and beyond.”Craig Moore, Beehive’s Founder & CEO added “This strategic alignment presents a huge opportunity to increase and accelerate financing to SMEs across the region. The market leading brand, reach and vision of e& and e& enterprise allows Beehive to drive more innovation and collaboration into the market. As one of the very first regional Fintech’s, this is a validation of the Beehive team’s incredible effort over the last 9 years and reflects the vibrancy and success of the UAE’s start up ecosystem.”Traditional lending to SME’s is paper-intensive and relies on collateral and guarantees. Fintechs and alternative lenders have recently stepped into this space introducing advancements such as one-time KYC, fast onboarding, and use of data-driven credit scoring. The regulatory structure is also evolving rapidly in the region, fostering a conducive environment for both liquidity providers and borrowers.