BILDCO Signs Strategic MoU to Acquire 50% Stake in AG Group, Marking Major Business Transformation
Abu Dhabi National Company for Building Materials PJSC (BILDCO), a company listed on the Abu Dhabi Securities Exchange (ADX), has signed a strategic framework memorandum of understanding (MoU) with AG Group outlining the proposed acquisition of a 50% equity stake in the diversified business group.
The proposed transaction remains subject to shareholder approval at BILDCO's general assembly, completion of due diligence, an independent valuation, execution of definitive transaction documents, and the receipt of all required corporate and regulatory approvals.
The deal represents one of the most significant milestones in BILDCO's history and marks the beginning of the company's long-term transformation into a diversified investment holding company through disciplined acquisitions, strategic partnerships, and long-term value-creating investments.
The MoU was signed in Abu Dhabi during a high-level meeting attended by senior representatives of both organizations. The signing ceremony was witnessed by H.E. Nasser Mohammed Al Junaibi, Deputy Director General for Operational Affairs at the Abu Dhabi Agriculture and Food Safety Authority (ADAFSA), alongside senior executives and officials, underscoring the importance of continued collaboration between leading public and private sector institutions in supporting the UAE's sustainable economic development.
Founded in 1974, BILDCO joins forces with AG Group, established in 1970, bringing together more than five decades of experience at each organization and over a century of combined business heritage. Upon completion of the transaction, BILDCO will become a strategic 50% shareholder in AG Group, creating a partnership that combines complementary expertise, financial strength, and strategic capabilities while expanding opportunities across multiple sectors.
Commenting on the agreement, H.E. Rashid Ali Rashid Al Omaira, Chairman of BILDCO, described the transaction as a strategic turning point that reflects the board's commitment to repositioning the company and delivering sustainable long-term value for shareholders. He said the partnership would create a strong investment platform capable of supporting future strategic initiatives while contributing to the UAE's vision of building a diversified and sustainable economy.
Shamsa Al Fahim, Acting Chief Executive Officer and Board Member of BILDCO, said the MoU represents an important milestone in the company's growth strategy, highlighting AG Group's long-standing operational excellence and disciplined expansion. She added that the partnership is expected to unlock mutual value while supporting the UAE's long-term economic development priorities.
Javed Ghulami, Chairman and Chief Executive Officer of AG Group, welcomed the partnership, describing BILDCO as the ideal strategic partner for the group's next phase of expansion. He said both organizations share a commitment to transparency, operational excellence, and sustainable growth, and expressed confidence that the partnership would create lasting value while supporting the future economy of the UAE.