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Abu Dhabi’s Q Holding is set to decide on proposed new investments, which include the acquisition of the Abu Dhabi National Exhibitions Company.
The investment company’s board of directors will meet on Tuesday next week to take up the acquisition of 100% of the share capital of ADNEC, according to a disclosure on the Abu Dhabi Securities Exchange (ADX).
The board will also decide on proposals to buy 100% of the share capital of Modon Properties, Miza Investments, Sahel 1 Restricted Limited, Sahel 2 Restricted Limited, Ory Action Restricted Limited and other real estate assets.
The new investments will be made through the issuance of mandatory convertible bonds into shares in the company’s share capital to the shareholders and owners of the targeted assets.
The company did not disclose details on the value of the proposed transactions.
Q Holding counts IHC and its subsidiary Alpha Dhabi as its biggest investors. Last August, Zawya reported that Abu Dhabi is consolidating key real estate assets under one entity, establishing a property giant valued at $12 billion.
ADQ and IHC will reportedly combine their shareholdings in Modon Properties, including ADQ’s stake in ADNEC, into real estate firm Q Holding.
(Writing by Cleofe Maceda; editing by Brinda Darasha)
