The company “Q” acquires the company “Adnec” and “Madin” as well as a number of other companies and assets

The Q Group Holding has entered into a sale and purchase agreement with ADQ Real Estate and Hospitality Investments Company, and IH Capital Holding Company.

According to the agreement, Q Group Holding acquires 100% of the capital share in a group of companies including Adnec Company, Madin Real Estate, Miza Investments, Sahel 1 Limited, Sahel 2 Limited, Oryx Action Restricted Limited, in addition to a group of other real estate assets.

The deal also includes the issuance of a total of 25,627,000,000 mandatory convertible bonds with a nominal value of 1 dirham each for both ADQ Investments and Hotels, which will receive 17,087,770,000 convertible bonds convertible into 6,328,803,704 new shares in the company’s capital, and for IHC Capital, which will receive 8,539,230,000 convertible bonds convertible into 3,162,677,778 new shares in the company’s capital at a conversion rate of 2.70 bonds per share.

The acquisition process will result in an increase in the company’s capital to 16,347,080,368 UAE dirhams through the issuance of 9,491,481,482 shares with a nominal value of 1 UAE dirham each for both institutions.

This increase in capital reflects Q Holding Group’s commitment to sustainable growth and paves the way for a strong and dynamic financial expansion that will propel the group towards new horizons.

Jasim Al Zaabi, Chairman of the Board of Directors of Q Holding Group, said:

“Completing the agreement with ADQ Real Estate and Hospitality Investments and IH Capital Holdings is a major achievement for Q Holding Group, showcasing our competitive capabilities in the real estate and financial markets in the United Arab Emirates. We will continue to work towards boosting the real estate economy in Abu Dhabi, developing our projects and incorporating sustainable systems into our strategic vision, as well as increasing our ambitions in the field of real estate development. We are pleased to announce a rebranding under the name of Cities Holding, following the diversification of our portfolio, expanding our reach, and achieving a wider presence.”

Bill Orygan, CEO of Q Holdings Group, expressed his pride in the successful acquisition by saying:

“The agreement represents a significant shift in Q Holdings Group’s strategy, as A DQ and HC Capital are prominent investment partners at the regional level. The acquisition of these assets and the bond conversion will set new standards for our strategic investment capabilities, enabling us to realize our expansion prospects and enter new sectors and international markets under the name Madinah Holdings soon. We intend to continue our growth in the real estate sector and are confident that this agreement will strengthen our presence in the market.”