Abu Dhabi, 24th March 2020: ADQ announces that it has assumed ownership of SENAAT, the UAE’s leading industrial holding company, from the Abu Dhabi Executive Council. ADQ is an entity specially established by the Government of Abu Dhabi to maximise the performance and value creation of state-owned companies in non-oil sectors that fall under its umbrella. This will enable them to achieve higher excellence in line with the Abu Dhabi Leadership’s vision.
The transfer of ownership of SENAAT to ADQ follows earlier announcements of similar transfers to ADQ of other government-owned companies, including Abu Dhabi Airports, Abu Dhabi Ports, Modon Properties, twofour54, Musanada, Abu Dhabi National Exhibition Company and Abu Dhabi Media.
The transfer of ownership of SENAAT to ADQ will have no impact on the operations of SENAAT’s portfolio companies, and SENAAT itself will continue to exist as a separate legal entity.
About ADQ
Headquartered in Abu Dhabi, ADQ was established in 2018 as a public joint stock company (PJSC). It holds a diverse portfolio of major enterprises spanning key sectors of Abu Dhabi’s economy, including utilities, tourism and hospitality, aviation, transportation, logistics, industrial, real estate, media, healthcare, agri-foods and financial services.
With a clearly defined mandate to generate sustainable financial returns for the Government of Abu Dhabi, ADQ stimulates value creation by developing prominent cluster ecosystems and instilling a culture of performance and efficiency across its portfolio of companies.
In addition to its role as a strategic government partner, ADQ is an asset owner and investor in target sectors, both locally and internationally, which align with Abu Dhabi’s leadership vision.
ADQ is committed to developing a globally competitive Abu Dhabi and operates with world-class standards of governance.
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