In Complementary Disclosure, Mazaya Qatar Receives Offer on Merging with Al Bandari Real Estate Company
23 January 2020
With reference to the previous announcement, in which it has shown interest to embark on studying the prospect of merging with Al-Bandari Real Estate Company, Mazaya Real Estate Development Company has announced that it wishes to inform its shareholders in particular and investors in general, that it has received an offer, on 22 January 2020, from Al Bandari on the subject of merger process.
After consulting the company’s financial and legal advisor, this offer has been raised and referred to the board of directors to study and take the required and necessary procedures.
Consequently, the Board will disclose its recommendation as soon as it is prepared to be presented to the General Assembly, in addition to taking into respect the requirements of the regulatory authorities, including Qatar Financial Markets Authority and Qatar Stock Exchange.
The company has earlier appointed Al Rayyan Investment Company as a financial advisor, Sharq Law Firm as a legal advisor and other specialized consultants to provide the right technical support to help them take the right decisions.