RIYADH: IHC’s Alpha Dhabi Holding has acquired further assets from privately held Murban, it said in a filing on ADX on Wednesday.
The deal includes the Cheval Blanc Randheli resort in the Maldives and Etihad International Hospitality, a facility management company, and follows last week’s announcement it had acquired St. Regis at Saadiyat, Al Wathba Luxury Collection Desert Resorts and the Le Noir Café brand from Murban for 1.7 billion dirhams ($463 million).
The additional assets bring the value of Alpha Dhabi’s transaction with Murban to 2.5 billion dirhams.
“This latest acquisition further expands Alpha Dhabi’s strong hospitality development division,” Alpha Dhabi Managing Director Hamad Al Ameri wrote in the filing. “By adding Emirates International Hospitality, a pioneer facility management company with a broad base of premium clients, we are also becoming more vertically integrated and creating growth opportunities by leveraging our position as part of the wider group of IHC companies.”
Opened in 2013, Cheval Blanc Randheli was Louis Vuitton Moët Hennessy’s second hotel venture after establishing the renowned Cheval Blanc Courchevel in France.
