Abu Dhabi-based Q Holding has acquired Reem Investment, an asset manager also based in Abu Dhabi.
Under the terms of the transaction, 17.33 of Q Holding’s shares will be allocated for each share acquired from Reem shareholders.
Q Holding, formerly known as Al Qudra Holding and listed on the Abu Dhabi Securities Exchange, stated that the purchase is in line with its local and international expansion plan.
The company, which traditionally invests in hospitality, project development and services, also hopes to diversify its holdings as a result of the deal.
The acquisition will make Q Holding’s portfolio worth more than AD5.9 billion (US$1.6 billion).
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