Business
ZAWYA-SNG: UAE’s Modon exits TMG Holding’s hospitality arm ICON
ZAWYA-SNG: UAE’s Modon exits TMG Holding’s hospitality arm ICON
About this update from Modon Holding Psc
Staff WriterArab Finance: Modon Holding has entered into definitive agreements to divest its full indirect investment in TMG Holding's hospitality arm, Icon Hotel Investment Ltd (ICON), to Abu Dhabi Developmental Holding Company (ADQ), according to a statement.Subject to regulatory approvals, the transaction is expected to be concluded by the first quarter (Q1) of 2026.It will not affect Modon’s hospitality assets outside of ICON, which has a portfolio of 15 operated hotels in the UAE as well as global markets.© 2025 All Rights Reserved Arab Finance For Information Technology Provided by SyndiGate Media Inc. (Syndigate.info).Disclaimer: The content of this article is syndicated or provided to this website from an external third party provider. We are not responsible for, and do not control, such external websites, entities, applications or media publishers. The body of the text is provided on an “as is” and “as available” basis and has not been edited in any way. Neither we nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this article. Read our full disclaimer policy here.