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Finance World Magazine| Edition: October 2024

This month, we are pleased to present the October edition of Finance World Magazine, focusing on "Embracing the Future of Investment in the Middle East." Our cover story features Eng. Yaser Al Nuaimi, Acting Head of Infrastructure Partnerships at the Abu Dhabi Investment Office, highlights how the Public-Private Partnerships initiative is reshaping the investment landscape of the UAE. In this issue, we explore the integration of AI and personal finance, Dubai's strategic vision for FinTech and advancements made in the healthcare sector, followed by a special feature on "Finance in 2040" - a captivating time capsule of financial predictions.

This month, we are pleased to present the October edition of Finance World Magazine, focusing on "Embracing the Future of Investment in the Middle East."

Our cover story features Eng. Yaser Al Nuaimi, Acting Head of Infrastructure Partnerships at the Abu Dhabi Investment Office, highlights how the Public-Private Partnerships initiative is reshaping the investment landscape of the UAE.

In this issue, we explore the integration of AI and personal finance, Dubai's strategic vision for FinTech and advancements made in the healthcare sector, followed by a special feature on "Finance in 2040" - a captivating time capsule of financial predictions.

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Merger and Acquisition News<br />

UAE: Arcapita Consortium Acquires $385M Stake in Mashreq Unit<br />

Arcapita Group Holdings Limited,<br />

a Bahrain-based alternative investment<br />

firm, has partnered with<br />

Dgpays, a leading financial infrastructure<br />

technology provider, to acquire a majority<br />

stake in Mashreq’s payment solutions unit,<br />

Neopay, for $385M. Neopay is the UAE’s<br />

fastest-growing payment solutions provider,<br />

boasting a strong presence among<br />

merchants and e-commerce platforms.<br />

Initially established as a strategic division<br />

within Mashreq, Neopay has seen remarkable<br />

growth, catering to diverse sectors<br />

including retail, hospitality, government,<br />

and e-commerce. This expansion is<br />

fuelled by the UAE’s vibrant economic<br />

environment, characterised by a young,<br />

tech-savvy population and strong GDP<br />

growth, alongside government initiatives<br />

promoting digital transformation. The<br />

acquisition marks a significant milestone<br />

for Arcapita, positioning Neopay for<br />

accelerated growth in the burgeoning<br />

Middle Eastern digital payments sector.<br />

Masdar to Acquire<br />

Saeta from Brookfield<br />

for $1.4B<br />

Abu Dhabi Future Energy Company<br />

PJSC, known as Masdar, has<br />

announced its proposed acquisition<br />

of Saeta Yield from Brookfield Renewable<br />

for an implied enterprise value of<br />

approximately $1.4B. The deal, expected<br />

to close by the end of <strong>2024</strong>, is subject to<br />

customary approvals. Saeta is a prominent<br />

independent developer and operator of<br />

renewable energy assets, with a portfolio<br />

comprising 745 megawatts (MW) of<br />

primarily wind energy, including 538MW<br />

in Spain, 144MW in Portugal, and 63MW<br />

of solar PV in Spain, along with a 1.6<br />

gigawatt (GW) development pipeline. This<br />

acquisition reinforces Masdar’s position<br />

in Spain’s renewable energy sector and<br />

aligns with its goal of achieving a global<br />

capacity of 100GW by 2030, underscoring<br />

its commitment to advancing the energy<br />

transition in Europe.<br />

Saudi PIF Unit SALIC Acquires 12.6% Stake in<br />

LSE-Listed Ukrainian Food Firm<br />

The Saudi Agricultural and Livestock<br />

Investment Co (SALIC),<br />

a subsidiary of the Public Investment<br />

Fund (PIF), has acquired a<br />

12.6% stake in MHP SE, a Ukrainian<br />

food and agrotech company listed on<br />

the London Stock Exchange. SALIC<br />

purchased 13.5M of MHP’s global depositary<br />

receipts (GDRs), a strategic<br />

move to enhance its global business<br />

operations and strengthen the value<br />

chain connecting local and international<br />

markets. By leveraging MHP’s<br />

status as a leading poultry producer<br />

in Europe and one of Ukraine’s largest<br />

producers of grain and vegetable oils,<br />

SALIC aims to tap into the fertile agricultural<br />

lands of the Black Sea region.<br />

MHP manages over 300,000 hectares of<br />

land and produces 2 million tonnes of<br />

grain, 800,000 tonnes of poultry, and<br />

400,000 tonnes of edible oil, contributing<br />

significantly to the region’s agricultural<br />

output. Established in 2012, SALIC<br />

plays a crucial role in Saudi Arabia’s<br />

food security strategy.<br />

TAQA Unveils $1.4B Acquisition of Masdar<br />

Abu Dhabi Future Energy Company<br />

(Masdar), in which the Abu Dhabi<br />

National Energy Company (TAQA)<br />

holds a 43% stake, is set to acquire Saeta<br />

Yield from Brookfield Renewable for<br />

$1.4B, pending regulatory approvals.<br />

This transaction, anticipated to close by<br />

the end of <strong>2024</strong>, will enhance Masdar’s<br />

portfolio, which currently consists of<br />

renewable power assets across the<br />

value chain. The acquisition includes a<br />

745 megawatt (MW) portfolio, primarily<br />

consisting of 538 MW of wind assets in<br />

Spain, 144 MW in Portugal, and 63 MW<br />

of solar PV in Spain, along with a 1.6<br />

gigawatt (GW) development pipeline.<br />

However, 350 MW of concentrated solar<br />

power assets will remain with Brookfield.<br />

This strategic move aims to strengthen<br />

Masdar’s presence in the Iberian market<br />

and supports its goal of reaching 100<br />

GW by 2030.<br />

86 www.thefinanceworld.com Oct <strong>2024</strong>

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