The "&e" group signs an agreement with the artificial intelligence company "J42".

The "&e" Group from the UAE has exited Khazna Data Center for $2.2 billion (AED 8.08 billion), according to a statement released by the company today.

The company, formerly known as "Emirates Telecommunications," has entered into an agreement with the artificial intelligence company "Ji42" to sell its 40% stake.

The statement from the company's board of directors stated that "the sale will generate a capital profit of $1.4 billion before considering federal royalty fees and corporate taxes," indicating that the proceeds from the deal will be used to reduce its debts.

&e's debt increased by AED 2.6 billion to AED 51.6 billion due to the rise in the debt of its subsidiary "Maroc Telecom" estimated at around AED 8.6 billion, according to the results of the third quarter of last year.

Khazna plans to launch projects in Saudi Arabia, Egypt, Turkey, and Kenya, followed by expansion in the Far East and Europe in later stages, as stated by its CEO Hassan Al Naqbi in an interview with "Al-Sharq" in October last year. The company specializes in developing data centers and providing services to businesses.