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Qatari property firms merge
Doha-based Barwa Real Estate Company has announced…
January 10, 2010 4:12 by kippreport
Doha-based Barwa Real Estate Company has announced that it is planning to merge with the Qatar Real Estate Investment Company (Alaqaria) and that the combined entity, when formed, will be the ninth largest company on the Qatar Exchange with a market capitalization of QR11.1 billion ($3 billion). Under the terms of the proposed merger, which is still subject to final approval, Alaqaria will become a subsidiary of Barwa.
The proposed merger has been approved by the Qatari Diar Real Estate Investment Company which currently holds 45 percent and 27 percent of the share capital of Barwa and Alaqaria respectively.
Goldman Sachs and The First Investor are acting as financial advisers to Barwa, while JP Morgan is acting as financial adviser to Alaqaria.