Abu Dhabi’s ADS to initiate major Africa investment

02 Dec 2010

(MENAFN) ADS Holding, an Abu Dhabi-based commodities firm is set to finalize three multi-billion dollar investments in African infrastructure with three other firms, Reuters reported.

ADS Holding has a 40 percent stake in the new company Baobab Investments, which focuses on emerging markets in the Middle East and Africa, and will invest across the supply chain in the trade of agriculture goods and minerals, including ports, railways and airports.

ADS is to focus on long-term development of commodities-based industries and on commodities trading

As for Baobab’s stakes, Grindrod, South Africa’s largest shipping company, holds a 35 percent stake, and Hutchinson Port Holdings has a 10 percent stake. The World Bank’s International Finance Corporation holds the remaining 15 percent.

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