Apr 18 2010 |
more articles from
|
Barwa closes offer to acquire Alaqaria stake
DOHA: Barwa Real Estate Company QSC ( Barwa ) yesterday announced the closing of its offer to acquire the share capital of Qatar Real Estate Investment Company QSC (Alaqaria) in exchange for shares in Barwa .The Offer has been accepted by shareholders of Alaqaria representing 85 percent of its share capital, exceeding the minimum 66 percent threshold on which the transaction was conditional.
The closing of the offer follows approvals of resolutions relating to the transaction by shareholders of Barwa and Alaqaria at their respective extraordinary general meetings held in Doha on 30 March 2010.
Ghanim bin Saad Al Saad, Chairman and Managing Director of Barwa and Managing Director of Qatari Diar Real Estate Company said, yesterday: "I am delighted that we have received such significant endorsements from both Alaqaria and Barwa shareholders, which clearly underlines the strategic rationale for the transaction. The combination will further enhance Barwa 's position as a leading regional real estate company in bringing together two highly complementary businesses. By joining forces, we are creating a world class real estate business that allows us to compete with the best in the world on new projects both domestically and internationally. We welcome Alaqaria in joining us at Barwa ".
Sheikh Khalid bin Khalifa bin Jassem Al Thani, Chairman and Managing Director of Alaqaria , added: "Today is a historic day for Alaqaria . Our shareholders have clearly recognized the benefits that the combination with Barwa creates. Together, we look forward to continuing to pursue Alaqaria 's proven successful strategy to grow and manage our substantial portfolio of assets under the Barwa umbrella."
Barwa has decided that it will continue to allow Alaqaria shareholders to accept the offer after today on the same terms as set out in the Offer Document and Shareholder Circular (which is available at the dedicated transaction website, www.barwa-alaqaria-merger.com) until otherwise advised.
Such shareholders can continue to accept the offer by returning the signed Form of Acceptance to the head office of Alaqaria , Museum Street, Old Salata, Doha.
Zawya Comment Policy
-
Zawya encourages you to add a comment to this discussion. You agree that when you add content to this discussion your comments will not:
1.1 Contain any material which is libelous or defamatory of any person, is obscene, offensive, hateful or inflammatory or causes damage to the reputation of any person or organisation.
1.2 Promote sexually explicit material, violence, discrimination based on race, sex, religion, nationality, disability, sexual orientation or age or any illegal activity.
1.3 Be made in breach of any legal duty owed to a third party, such as a contractual duty or a duty of confidence.
1.4 Be threatening, abuse or invade another's privacy, or cause annoyance, inconvenience or needless anxiety.
1.5 Be used to impersonate any person, to misrepresent your identity or affiliation with any person, or be likely to deceive any person.
1.6 Give the impression that they represent Zawya.
1.7 Advocate, promote or assist any unlawful act such as (by way of example only) copyright infringement or computer misuse. - The content posted on www.zawya.com is created by members of the public. The views expressed are theirs and unless specifically stated are not those of Zawya. Zawya reserves the right to review all comments prior to posting and edit or delete any contribution, but Zawya is not responsible for and can not be held liable for any content posted by members of the public on www.zawya.com.
- Zawya is not responsible for the availability or content of any third party sites that are accessible through www.zawya.com. Any links to third party websites from www.zawya.com do not amount to any endorsement of that site by Zawya and any use of that site by you is at your own risk.
- By submitting your comment, you hereby give Zawya the right, but not the obligation, to post, air, edit, exhibit, telecast, webcast, re-use, publish, reproduce, use, license, print, distribute or otherwise use your comments worldwide, in perpetuity.
Copyright © 2012 Zawya Ltd. All rights reserved. |
provided by www.zawya.com |
Post Your Comment