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Gulf Warehousing Company
Discloses on a Potential Acquisition by a Subsidiary
23 March 2020
Gulf Warehousing Company announced
that Gulf Warehousing Petrochemicals (a subsidiary fully owned by Gulf
Warehousing Company), and in a step to expand its operations, intends to
acquire Spick N Span Cleaning Services LLC, in accordance with the
following details:
Offeror: Gulf
Warehousing Petrochemicals CR#47551, Paid up capital QAR 200,000/-
Offeree: Spick N Span
Cleaning Services LLC, Headquarters, Doha – Qatar
Proposed
Acquisition Immediate 76% stake-holding in the offeree. 24% 3 years.
Acquisition
Objective Expansion of
the operations of Gulf Warehousing Petrochemicals
Pros, cons &
Risks No anticipated risks the shareholders Gulf Warehousing Company
PJSC.
It is worth noting that the acquisition is under review and
assessment while Gulf Warehousing Company strives to fully comply with
the disclosure rule in force and will disclose any the progress of the
deal in accordance with the respective regulations and laws.