The acquisition will expand ADNEC’s footprint in the tourism sector, the company said in a statement on Thursday, without disclosing any further details.
“[The company] is taking the next step in its business diversification strategy with the strategic assets transfer of tourism business unit from Etihad Airways to ADNEC Group,” the statement said.
Etihad Holidays will integrate with Tourism 365, which is ADNEC’s tourism promotion business.
“We hold a long-term investor perspective in identifying and acquiring key assets in developed markets. This move will strengthen the Group’s competitiveness and will increase direct and indirect economic contributions to the UAE’s tourism sectors,” said Humaid Matar Al Dhaheri, managing director and group CEO of ADNEC.
Tourism 365 will…