Abu Dhabi – Mubasher: Q Holding has acquired all shares of Reem Investments as part of its objective to expand its portfolio of investment assets for a total amount of AED 5.94 billion.
The acquisition will be executed in exchange for new shares to be issued in Q Holding by allocating 17.33 of the company's shares for each share acquired in Reem Investments, according to a press release on Thursday.
Hence, Q Holding will increase its capital by issuing new shares with a maximum of 1.34 billion to the shareholders of Reem Investments.
The Chairman of Q Holding, Abdulla Mohammed Butti Al Hamed, said: "Q Holding aims to generate sustainable growth for its stakeholders and deliver the security of long-term returns while actively contributing to the economic development and supporting the global ambitions of the UAE."
Meanwhile, the CEO of Q Holding, Majed Fuad Mohammed Odeh, commented: "Q Holding acquisition of Reem Investments Company is part of our strategic investment plan as we developed a carefully though-out strategic plan to support local, regional and international investment sectors by nurturing the next generation of entrepreneurs, disruptors and business leaders."
