Abu Dhabi-listed investment holding company Q Holding has acquired 100 percent of shares of Reem Investments Company as part of its strategy to broaden its portfolio of investment assets. 

As part of the transaction, 17.33 of the company’s shares will be allocated for each share acquired from Reem Investments’ shareholders, Q Holding said in a statement to the Abu Dhabi Securities Exchange (ADX).

The deal is part of a strategy to expand locally and globally and grow the company’s portfolio of investment assets for more than 5.9 billion dirhams ($1.6 billion), Q Holding said.

Formerly known as Al Qudra Holding, the company invests in hospitality, project development, services and diversified businesses.