Ghitha Holding PJSC Announces Strategic Expansion with Acquisition of MNG Airlines Shareholding

• Acquires 44% stake in MNG Airlines for USD 211.20 million.
• The acquisition strengthens Ghitha’s logistics and aviation, cementing its leadershipin the regional food trading sector.

Abu Dhabi, UAE – February05, 2024:Ghitha HoldingPJSC (ADX:Ghitha), a subsidiary of Abu Dhabi-based conglomerate International Holding Company (ADX: IHC), announced a significant milestone in its growth strategy by expanding within thelogistics andaviation sector. Through its wholly-owned indirect subsidiary, GhithaAeroinvest Holding RSC LTD, the company entered into a Share Purchase Agreement (SPA) dated as of February 1, 2024, to acquire a 44% stake in MNG HavayollariveTasimacilik A.S. (MNG Airlines), a leading commercial cargo company headquartered in Turkey.

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