Abu Dhabi’s Al Qudra Holding has rebranded as Q Holding and plans to work with innovative companies to generate sustainable growth, the company said on Thursday.

In a statement to Abu Dhabi Securities Exchange, the newly named Q Holding said it will work with innovative companies across all verticals, and will be a prominent force in the next phase of economic development.

At the end of last year, IHC Holding announced that it had acquired a majority stake in the company, while Alpha Dhabi Holding announced that it had acquired a 25 percent stake in January.

(Writing by Imogen Lillywhite; editing by Daniel Luiz )