Gulf International Services (GIS) has entered into an interim agreement with Manaya Holding Group, pertaining to a potential all-share merger of its subsidiary Amwaj Catering Services with selected entities of Shaqab Abela Catering Services Company and Atyab Fruits and Vegetables.
The potential merger would create a sizeable 100% Qatari services company and is expected to contribute positively to the industrial catering and manpower services sector in Qatar. Shaqab Abela Catering Services Company and Atyab Fruits and Vegetables are owned by Manaya Holding Group.
The newly merged entity would continue to support corporate businesses, including small and medium-sized enterprises, by providing a wide range of services. The potential merger would create value on the back of Qatar’s strategic North Field and overall energy sector expansion. The potential merger will also pave way for strategic partnership between public and private sectors.
The potential merger would form a local champion with increased competitive advantages and providing better avenues of growth alongside capturing major commercial and operational synergies, which would lead to medium- to long-term value creation for all the stakeholders, including respective shareholders of each company.
Source: gulf-times.com
