Qatar, November 3rd 2008 -Qatari Diar Real Estate Investment Company in the first mention, BARWA Real Estate and QInvest announce the acquisition, through the company Q-West, of 2.98% of the capital of SUEZ ENVIRONNEMENT.
QInvest, the largest investment bank in the State of Qatar, was the sole arranger and advisor to the transaction.
This acquisition, which constitutes a long term investment, is part of a strategic partnership between Qatari Diar, BARWA and the GDF SUEZ Group, and reinforces the Joint Venture recently established to answer the development needs of new cities in Qatar and the Region.
Qatari Diar, BARWA, GDF SUEZ Energy Services and SUEZ ENVIRONNEMENT announced on October 15th 2008 the establishment of a Multi-Utility company in Qatar, focused in the fields of water treatment and distribution, wastewater collection and treatment, power transmission and distribution, various energy services such as district cooling and gas, solid waste collection and treatment, desalination and Integrated Communication Technologies.
This JV will identify, assess and bid for multi-utilities projects and opportunities in Qatar while benefiting from the combined strengths of both partners.
The Multi-Utility Company will thus be able to propose a unique "palette" of services both in the environmental field as well as the energy service field.
The new acquisition stems from the strong synergy between the know-how and sustainable competence of SUEZ ENVIRONNEMENT and the strengths of both Qatari Diar & BARWA at their home country and other accessible projects around the world. This acquisition can be viewed as new reach for SUEZ ENVIRONNEMENT towards further profitability and growth.
Qatari Diar, BARWA and QInvest consider reinforcing their stake in the capital of SUEZ ENVIRONNEMENT and asking for one seat on the Board of Directors.
-Ends-About Qatari Diar
Qatari Diar is a wholly-owned subsidiary of the Qatar Investment Authority, the sovereign fund of Qatar.
Since its creation in 2005, Qatari Diar, as a global actor in Real Estate Development and Investment, has developed a large portfolio, with more than 40 projects through 17 countries in the Middle East, Africa, and Europe.
For more information: www.qataridiar.com
About BARWA
BARWA is one of the premier organizations in the State of Qatar. As the name "BARWA" or "Contractual Commitment" suggests, we are inspired by our vision of a glowing future for Qatar.
With business interest in real estate & project development, property & facility management, construction material production, environmental activities & health, banking & finance, hotels & resorts, technology & utility, knowledge & communications and agriculture; BARWA is driven by the conviction that people deserve a comfortable living and working environment.
With extensive operations in Qatar and around the world, we believe that every BARWA project is the seed for an incredible journey, where our greatest achievement is realizing the dreams of our stakeholders.
For more information: www.barwa.com.qa
About QInvest
QInvest is the largest investment bank in the State of Qatar. Licensed by the Qatar Financial Centre Authority in April 2007 with authorized capital of US $1 billion and US $500 million paid-up, QInvest is distinguished by the strength of its shareholder structure, comprised of both institutional and prominent individuals from Qatar and the GCC region (Gulf Cooperation Council). QInvest aims to become a world class investment banking firm offering a broad range of products and services under Sharia'a compliant structures.
For more information: www.qinvest.com
Press contacts
For further details:
Bassel Hanbali
Chief Communication Officer
+974 654 2099
bassel.hanbali@barwa.com.qa
© Press Release 2008
