Multiply Group PJSC (ADX:MULTIPLY) signed a binding commitment to acquire a 55% stake in Media 247 for approximately AED 180 million on April 24, 2023. Media 247 assets include over 45 exclusive outdoor premium hoardings, unipoles and 3D structures spread across Dubai?s most strategic locations. The investment in Media 247 falls under the buy and build vertical strategy of acquiring profitable companies, creating portfolio-wide synergies, investing in bolt-on acquisitions, augmenting scalability and enhancing their margins.

Deal completion is subject to regulatory conditions and approvals.