highlights
Discover what’s new at EIH
Abu Dhabi, 16 January 2024: The board of EIH Ethmar International Holding PJSC has appointed Ms. Low Ping to act as the Chief Executive Officer of the group.
With more than 30 years of leadership experience, Ms. Low Ping has led and transformed several regional and global companies. Her commercial expertise spans a wide range of industries and sectors and is combined with a deep knowledge of finance, risk management, and business expansion.
Abu Dhabi, UAE and Guangzhou, China, December 18, 2023 – EHang Holdings Limited (“EHang” or the “Company”) (Nasdaq: EH), the world’s leading urban air mobility (“UAM”) technology platform company, announced that it is extending its operations to the United Arab Emirates (“UAE”). This expansion involves joining the Smart and Autonomous Vehicle Industries (“SAVI”) Cluster in Abu Dhabi. Additionally, a long-term strategic partnership has been formed with Wings Logistics Hub, the passenger eVTOLs (smart mobility) and logistics tech subsidiary of Technology Holding Company (“THC”), being the technology arm of EIH Ethmar International Holding.
Abu Dhabi, 14 December 2023: Abu Dhabi Commercial Bank (“ADCB”) has signed an agreement to divest 80% stake in its wholly-owned property management subsidiary Abu Dhabi Commercial Properties (“ADCP”) to Nine Yards Plus Holding (“Nine Yards Plus”), a real estate subsidiary of EIH Ethmar International Holding PJSC (“EIH”).
The transaction values Abu Dhabi Commercial Properties at AED591mn and the Bank will register a gain of approximately AED 490 million subject to closing conditions before the end of December 2023.
The sale of the majority stake, while unlocking significant value for shareholders, aligns with ADCB’s strategy to focus on the expansion of its core banking businesses and provides a strong strategic platform for further growth of ADCP.
ADCB will retain a 20% stake in ADCP post-transaction and will continue its partnership via a long-term relationship agreement.
