UAE's Alpha Dhabi increases stake in Aldar to 30%

Headquarters of Aldar is seen in Abu Dhabi, United Arab Emirates, December 24, 2018. REUTERS/Hamad I Mohammed

DUBAI, Jan 3 (Reuters) - UAE-based conglomerate Alpha Dhabi (ALPHADHABI.AD) said on Monday it has increased its stake in Abu Dhabi developer Aldar Properties (ALDAR.AD) to 29.8% after acquiring an additional 17%.

The increase in ownership came after Alpha Dhabi acquired the entire share capital from three companies: Sublime 2, Sogno 2 and Sogno 3, the company said, without providing any details on the deal value.

Alpha Dhabi also increased its stake in National Marine Dredging Co (NMDC.AD) by 3.38% and acquired 25.24% of Al Qudra Holding as part of the acquisition.

Writing by Alexander Cornwell; Editing by Sherry Jacob-Phillips

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