"Q Holdings" acquires "Reem Investments" for a value of 5.94 billion dirhams
Mohammed Butti Al Hamed: “(Q Holdings) aims to achieve sustainable growth for investors and provide long-term returns.”
"Q" Holding Company announced its acquisition of the entire shares of "Reem Investments", for 5.94 billion dirhams, thus enhancing its growing portfolio of assets.
The Chairman of the Board of Directors of "Q" Holding Company, Muhammad Butti Al Hamed, said in a press conference yesterday, "(Q) has acquired all the shares of (Reem Investment) in exchange for shares to be issued in (Q Holding) at an amount of 5.94 billion dirhams."
He added that "new shares will be issued in the company, so that 17.33 of the company's shares will be allocated for each share acquired from the shares of the shareholders of Reem Investment Company," noting that the company's capital will be increased by issuing new shares with a maximum of 1.347 billion shares to the shareholders of Reem. For investment, according to the share exchange rate.
Al Hamed noted, “This important step comes within the company’s continuous efforts to increase its investment portfolio, develop its business, and develop our 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, as (Q Holdings) aims to achieve growth sustainable for investors and provide long-term returns, which contributes to promoting economic development and supporting the global ambitions of the UAE.”
For his part, Chief Executive Officer of Q Holding Company, Maged Fouad Mohamed Odeh, said, “The acquisition by (Q Holding) of (Reem Investment) came as part of its strategic investment plan, as the company developed a carefully studied strategic plan to invest in a number of sectors and fields. of interest locally, regionally and globally, and nurture the next generation of entrepreneurs and business leaders.”
Odeh indicated that the company is looking forward to further expansion by following long-term directions and mechanisms, approved by the Board of Directors, to enhance the position of Q Holding Company as one of the largest and most important companies operating in the investment sector.
He noted that "Q" Holding Company is a private joint stock company established in 2005, and is one of the largest investment companies in the Emirate of Abu Dhabi. Since its establishment, the company has actively contributed to achieving sustainable development in the region, by investing in vital sectors. It is responsible for achieving the highest returns by investing in selected sectors, such as real estate, entertainment and hospitality.
• The company's capital will be increased by issuing new shares with a maximum of 1.347 billion shares to the shareholders of "Reem Investments".
Follow our latest local and sports news and the latest political and economic developments via Google news