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The Qatar-listed Aamal Company is looking to liquidate three of its subsidiaries, which the conglomerate says have remained dormant for an extended period.
Included in the three subsidiaries is the Doha-based Ci-San Trading, an investment firm, which was earlier jointly owned by Aamal and Qatar’s AlRayan Bank. In May 2024, Aamal bought out AlRayan Bank’s take for 32 million riyals ($8.8 million).
Ci-San Trading subsidiary, construction firm Gulf Rocks is also one of the three companies Aamal is looking to liquidate, along with Aamal for Car and Truck Maintenance.
Aamal, which has holdings in real estate, pharmaceutical and industrial sectors, is calling this move a “strategic step” to streamline its business operations and enhance efficiency.
(Writing by Bindu Rai, editing by Seban Scaria)
