A unit of Abu Dhabi’s investment holding company 2PointZero has agreed to acquire a US gas infrastructure company for $2.25 billion, as cross-border dealmaking momentum continues despite the Iran war heading into a second month.
ePointZero, a subsidiary of 2PointZero, is buying 100 per cent of Traverse Midstream Partners, which owns stakes in gas assets, the company said in a statement on Tuesday to the Abu Dhabi Securities Exchange, where its shares are traded. The deal is subject to regulatory approvals.
Traverse is a portfolio company of the Energy and Minerals Group (EMG) that holds non-operated midstream energy sector assets.
It also owns strategic minority stakes in Rover Pipeline and Ohio River System. Rover is a large-scale, interstate natural gas pipeline that provides critical takeaway capacity from the Utica and Marcellus Shale production areas in the US to demand markets in the Upper Midwest, US Gulf Coast and Eastern Canada.
“The pipeline plays a central role in connecting one of the most prolific gas-producing regions in North America to downstream consumers and export infrastructure,” 2PointZero said in the statement.
The deal comes days after the UAE's ambassador to the US Yousef Al Otaiba said that the Emirates remains “open for business” and is committed to investment and partnerships with America. “The UAE's $1.4 trillion investment and economic framework with the US, announced last year, will stay on track with plans to accelerate deployment and funding,” Mr Al Otaiba said.
The 2PointZero group was created through the merger of Abu Dhabi investment vehicles – tech-focused holding company Multiply Group, food and agriculture investment firm Ghitha, and 2PointZero – in November last year.
It focuses on high-growth sectors including food security, advanced energy and renewables, with plans to capitalise on demographic shifts such as the expansion of the middle class in Asia and rising demand for consumer goods.
The deal marks the continued momentum of inward and outbound investment activity by Gulf investors despite the Iran war tipping the broader Middle East into one of its worst geopolitical crises.
Tehran has launched waves of missiles and drones strikes against the civilian and energy infrastructure of its Arab neighbours in retaliation for the US-Israel bombing of Iran, which began on February 28.
The effective closure of the Strait of Hormuz, through which one fifth of the world’s hydrocarbons normally pass, has trigged a global energy crisis.
However, regional investors have continued signing deals, with Saudi Arabia’s Public Investment Fund and Qatar’s sovereign fund doing in March.
Since its formation as a merged entity, 2PointZero Group has sought to diversify its geographic presence and is seeking deals in Asia and several other markets.
On March 5, the company said it had completed its acquisition of a majority stake in Italy's ISEM Packaging Group, allowing its entry into a sector that will help boost its bottom line. It has taken a 60.8 per cent shareholding in Bologna-based ISEM with the transaction valued at $191.7 million, it said in a bourse filing.
In its first post-merger earnings, the company reported full-year net profit of Dh3.43 billion ($930 million) in February, driven by a surge in revenue, investment gains and scaling of diversified assets.
The group's revenue more than tripled to Dh7 billion in 2025, from Dh1.7 billion a year earlier, fuelled by “organic growth” and the consolidation of Tendam, 2PointZero and Ghitha, it said in a stock exchange filing at the time.
