Waha Capital invests 184 million dirhams in the Despigarh platform
The Waha Capital Investment Company, listed on the Abu Dhabi Financial Market, announced an investment of 184 million dirhams ($ 50 million) in Despegar.com, the digital platform specializing in travel and tourism services, listed on the New York Stock Exchange.
Waha Capital affirmed that this new investment will support its strategy to grow and diversify its investment portfolio.
According to the agreement, "Waha Capital" entered into a private placement with "Despigar", through which it would invest in shares worth 184 million dirhams.
The CEO of "Waha Capital", Amr Al-Minhali, said that the company is pursuing a radical transformation strategy, aiming to achieve renewed growth in the coming years, pointing out that this strategy has proven successful in the financial results of the first half of this year, which were recently announced. .
He continued: “We are confident that our current investment in (Despegar) will provide us with a solid base, which will provide rewarding future returns for our shareholders, at a time when we overcome the impact of the (Corona) pandemic, and look forward to the future.”
According to the statement, investing in Despegar will lead to diversification of the Waha Capital portfolio, and work in a different sector and a new geographical region, as Despegar is a distinguished digital platform that provides travel and tourism services via the Internet in Latin America, and provides its partners and suppliers with a technical platform. Comprehensive and innovative to manage the distribution of its products, as it provides a variety of products, flexible payment options, and a wide portfolio of tourism services, including more than 270 airlines, 690 thousand hotels, in addition to 1260 car rental agencies, and 200 suppliers of tourism services.