DOHA: Gulf International Services Company (GIS) is studying acquisition of Amwaj Catering Services Company, Qatar News Agency (QNA) has reported yesterday. GIS has appointed QNB Capital LLC to act as financial advisor and lead a consortium in connection with conducting a due diligence and business evaluation on Amwaj for a potential acquisition by GIS.
GIS was incorporated as a Qatari shareholding company on 12 February 2008, by Qatar Petroleum (QP), a 100 percent state-owned company. GIS is registered under Commercial Registration number 38200. Prior to the IPO, GIS was fully owned by QP and on May 26, 2008, QP listed 70 percent of the company''s issued capital at the Qatar Exchange. GIS has significant investments in national and international oil and gas industry, including well support services, offshore and onshore drilling services, helicopter maintenance and transportation services, insurance and reinsurance services.
Currently, GIS acts as a holding company which owns and controls stakes in several companies. GIS' authorised capital is QR10bn. On February 24, 2008, A "Reorganization" was effected by GIS resulting in a capital increase to which QP subscribed though contribution of all of QP shares in the Portfolio Companies in exchange for 122,369,996 newly-issued shares of GIS. The present issued capital of GIS is QR1,228bn divided into 122,870,000 ordinary shares of QR10 each.
© The Peninsula 2010
