April 2, 2023

Dubai Week

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Allocates $ 845 million for multiplayer expansion

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The Abu Dhabi-based CEO of Multiplay Group said on Friday that Global Holdings, a major shareholder, would spend 3.1 billion dirhams ($ 845 million) raised when it was listed last month. Expansion.

Multiplay was established as a telecommunications company in 2003 and was acquired by Global Holding in 2020 before being listed on the Abu Dhabi Stock Exchange.

Multiplay describes itself as a “technology-focused holding company” whose units include cooling and driving-education businesses and spa services.

The company’s CEO, Samia Bouazza, told Reuters that the bulk of the money would be spent on investments and acquisitions, and would be distributed equally to all business segments.

“We are very brave and look forward to good opportunities very aggressively,” he told Reuters.

He added that the company was studying several deals in Europe. The deadline will be set as soon as the opportunities come, he said.

Multiplay announced at the end of December that it would invest 275 million dirhams in Getty Images, ahead of the upcoming merger between the media company and the special purpose acquisition company.


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