17 November, 2019

KPMG emerges lowest bidder for Bahrain Metro advisory deal

Six firms had bid to provide transaction advisory services for the first phase of the metro

Image used for illustrative purpose. Workers are seen at the construction site of the new Weinbergtunnel railway tunnel for Swiss rail operator SBB in Zurich November 26, 2013.

Image used for illustrative purpose. Workers are seen at the construction site of the new Weinbergtunnel railway tunnel for Swiss rail operator SBB in Zurich November 26, 2013.

REUTERS/Arnd Wiegmann

17 November 2019
Global professional services firm KPMG has emerged as the lowest bidder for providing transaction advisory services for phase one of the Bahrain Metro project.

Six companies had submitted bids, according to the Bahrain Tender Board.

KPMG's 1.6 million Bahraini dinars ($4.3 million) bid was the lowest followed by the Lazard Freres' 1.89 million dinars bid. Gulf International Bank submitted the highest bid (3 million dinars), followed by Ernst & Young (2.5 million dinars), PwC Middle East (2.05 million dinars), and Deloitte Professional Services (2.1 million dinars), according to the tender board notice.

In February, Thomson Reuters Projects had reported that three firms were in the race for the advisory deal.

(Writing by Sowmya Sundar; Editing by Anoop Menon)

(anoop.menon@refinitiv.com)

Our Standards: The Thomson Reuters Trust Principles

Disclaimer: This article is provided for informational purposes only. The content does not provide tax, legal or investment advice or opinion regarding the suitability, value or profitability of any particular security, portfolio or investment strategy. Read our full disclaimer policy here.

For more data, analytics, tools and news on projects in the Middle East visit the Thomson Reuters Projects portal

© Thomson Reuters Projects News 2019