Abu Dhabi's Multiply Group Acquires Breakwater Energy Stake for $100M
Abu Dhabi's Multiply Group has acquired a minority stake in Breakwater Energy for Dh367 million ($100 million) as part of its strategy to enhance its global portfolio. Breakwater Energy, a subsidiary of EIG.
Multiply Group Expands Global Portfolio with Breakwater Energy Investment
a leading institutional investor in the energy and infrastructure sectors, gained a 25% interest in Repsol E&P, a gas-focused exploration and production company, for $4.8 billion in March. Repsol's diversified upstream assets encompass operations in 15 countries, producing over 550,000 barrels of oil equivalent per day. The proceeds from the investment will support Repsol's expansion of low-carbon platforms globally, according to Multiply Group.
Repsol, EIG, and Multiply Group Explore Potential US Listing for Breakwater Energy
Repsol and EIG are also considering the potential listing of the business in the United States from 2026, contingent upon favorable market conditions. Samia Bouazza, Group Chief Executive and Managing Director at Multiply Group, stated that the investment in Repsol E&P aligns well with Multiply+'s portfolio, which focuses on attractive dividend-paying investments with a mid-to-short-term horizon. She expressed confidence in the proven track record of Repsol's management and EIG's standing as a prominent energy investor, emphasizing their collective ability to deliver Breakwater Energy's ambitious plans.
Multiply Group: Abu Dhabi's Diversified Investment Company Expands Portfolio in Multiple Sectors
As a subsidiary of Abu Dhabi's International Holding Company, Multiply Group remains committed to expanding its portfolio. The company operates and invests in various markets through Multiply, which includes mobility, energy and utilities, media and communications, as well as beauty and wellness. Its investment arm, Multiply+, seeks double-digit returns across multiple asset classes. Noteworthy investments by Multiply include Emirates Driving Company, Viola Communications, Taqa (Abu Dhabi National Energy Company), Dubai Electricity and Water Authority, Borouge, Getty Images, Rihanna's Savage X Fenty, and International Energy Holding.
Multiply Group: Strong Financial Position, Expansion Plans, and Potential Future Listings
Having demonstrated strong cash flow and a healthy debt-to-equity ratio, Multiply is well-positioned with access to over Dh4 billion in financing capacity. The company anticipates the emergence of more value-accretive acquisition opportunities across its operating verticals and investment arm, driving portfolio growth. Furthermore, Multiply aims to double its net profit this year from companies where it holds a controlling stake, excluding fair value gains or losses. Ms. Bouazza has also indicated the possibility of listing certain divisions of Multiply in the future.