Abu Dhabi ADX-listed investment holding company Q Holding has fully acquired Reem Investments, a company engaged in property investment and the development of real estate, as part of its strategy to broaden its portfolio of investment assets.
As part of the transaction, 17.33 of the company’s shares will be allocated for each share acquired from Reem Investments’ shareholders, Q Holding said in a statement.
The acquisition is part of Q Holding’s strategy to expand locally and globally and grow the company’s portfolio of investment assets by more than $1.6 billion.
The Chairman of the Board of Directors of Q Holding, Mr. Abdullah Muhammad Butti Al Hamed, commented that this step comes within the efforts of Q Holding to develop its business and develop its performance, in line with the investment plans of the Board of Directors in selected sectors to meet the needs of the local and international market.
Chief Executive Officer of Q Holding, Mr. Maged Fouad Odeh said that “The company’s acquisition of Reem Investments comes within the framework of a carefully studied strategic plan to invest in a number of sectors and areas of local, regional and global interest, and to nurture the next generation of entrepreneurs and business leaders.”
Q Holding is looking forward to further expansion by following long-term directions and mechanisms approved by the Board of Directors to consolidate its position as one of the largest and most important companies operating in the investment sector, added Mr. Odeh.
Formerly known as Al Qudra Holding, the company has a diverse investment in hospitality, project development, services and diversified businesses.
Related: ADNOC to acquire Mubadala’s 25% stake in petrochem company Borealis