Abu Dhabi National Exhibitions Company PJSC and Abu Dhabi Developmental Holding Company PJSC through a special purpose vehicle agreed to acquire 40.5% stake in ICON Group from Talaat Moustafa Group Holding (CASE:TMGH) on January 12, 2024. As per the terms, Abu Dhabi National Exhibitions Company PJSC and Abu Dhabi Developmental Holding Company PJSC will acquire 51% stake and 49% stake respectively. The transaction is subject to customary closing conditions.

EFG Hermes Promoting and Underwriting S.A.E. acted as a financial advisor to Talaat Moustafa Group Holding. White & Case LLP and MHR & Partners in association with White & Case LLP acted as a legal advisor to Abu Dhabi National Exhibitions Company PJSC and Abu Dhabi Developmental Holding Company PJSC and Girgis Abd El-Shahid and Hani Sarey El-Din acted as a legal expect to the transaction.