The Abu Dhabi-based investment group Multiply has announced that it is set to acquire a 55 per cent stake in the outdoor company Media 247 in an AED 184 million deal. The investment group has signed a binding commitment to acquire the majority stake in the outdoor advertising supplier.
The investment in Media 247 falls under Multiply’s strategy to buy and build upon the established profitable company to expand its operations and increase its returns.
The buyout aims to develop the growth of Multiply Group’s media and communications vertical and the consolidation of all its assets in the out-of-home media space. Multiply’s Head of Media and Communications vertical Jawad Hassan said
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