2PointZero Completes Sale of 7.29% TAQA Stake to Abu Dhabi Power Corporation in Capital-Recycling Move
Abu Dhabi-listed investment group 2PointZero PJSC completed the sale of its entire 7.29 percent stake in Abu Dhabi National Energy Company PJSC (TAQA) to Abu Dhabi Power Corporation, an indirect wholly owned subsidiary of L’IMAD Holding Company, the Emirates News Agency (WAM) reported on Thursday, 11 June 2026.
The transaction marks a full exit from one of 2PointZero’s largest minority positions and consolidates TAQA ownership within the L’IMAD structure, as the group redirects capital toward controlled platforms across energy, mining, consumer, food, and packaging sectors.
A Balance Sheet Built for Deployment
Following completion, 2PointZero reports AED135 billion in assets and AED9.5 billion in cash as at the end of the first quarter, with a net debt-to-equity ratio of 0.17x and net debt-to-EBITDA of approximately 2.0x — among the most conservative leverage profiles of the region’s large investment groups. The group stated the proceeds will be allocated to optimising its capital structure and funding investments targeting internal rates of return above 15 percent.
The group’s chairman, Sheikh Zayed bin Hamdan bin Zayed Al Nahyan, said liquidity and flexibility are strategic advantages in the current market environment, with the transaction enabling continued global diversification of the portfolio.
TAQA’s Standing Unchanged
TAQA, one of the region’s largest utility and energy platforms, reported net income of AED7.5 billion in fiscal year 2025, alongside accelerated investment across power, water, and transmission infrastructure. The change in minority ownership does not affect the company’s operations; it consolidates the holding within Abu Dhabi’s state-linked ownership architecture.
Capital Recycling as a Regional Pattern
The exit follows 2PointZero’s 2025 disposal of PAL Cooling Holding and reflects a wider pattern among Abu Dhabi investment groups: rotating out of minority stakes to concentrate capital in controlled, cash-generative ecosystems. The stated 15 percent IRR threshold and 0.17x net gearing provide unusually explicit guidance on deployment discipline for a regional holding group.
Outlook
With AED9.5 billion of cash and minimal leverage, 2PointZero enters the second half of 2026 as one of the region’s most liquid acquirers — its next deployments, rather than this exit, will define the portfolio’s direction.
Sources: Emirates News Agency (WAM), 11 June 2026; company disclosures cited therein (TAQA FY2025 results).
