ADQ Aviation contributed the Perimeter Assets to ADA, and the consideration for transferring the Perimeter Assets was satisfied by the issuance of convertible instruments (the “Convertible Instruments”) from ADA to ADQ Aviation. At The closing of the transaction, the Convertible Instruments were converted into 652m ordinary shares of par value AED 1 each in the capital of ADA. Following the transaction closing on 1 May 2024, ADQ Aviation’s ownership represents 59.45% of ADA’s issued share capital.
The following are the Perimeter Assets forming part of the transaction:
a) 100% stake in Advanced Military Maintenance Repair and Overhaul Centre LLC (“AMMROC”)
b) 100% stake in Etihad Airways Engineering LLC (“EYE”)
c) 50% stake in Global Aerospace Logistics LLC (“GAL”)
The transaction is expected to create a globally competitive aviation business headquartered in Abu Dhabi, positioning the Emirate as a world-leading hub for aviation MRO services, logistics, supply chain, and advanced engineering capabilities.
The combined group would have assets of approximately AED 9.4 billion (approximately USD 2.6 billion) with an extensive portfolio of aircraft, MRO centers and hangars.
The proposed transaction will further Abu Dhabi’s position as a world-leading center of aviation excellence. Combining each asset’s strengths will form a global MRO and aviation services champion to capitalize on growth opportunities in the aviation industry. The proposed combination will provide a framework for investing in the future development of an advanced aviation ecosystem that supports the sustainable transformation of Abu Dhabi and the USE’s economy for the long term.
