Tasheel, an online government-backed system, and IHC, a diversified holding company, agreed to acquire Arena Events Group, a turnkey event solutions provider, for £95m. "IHC and Tasheel are both diversified holding companies, formed as part of initiatives to diversify and grow non-oil business sectors in the United Arab Emirates and Saudi Arabia respectively. Arena fits well into that diversification strategy, particularly given the growth potential of the temporary events structures market in the Middle East," Tasheel and IHC.