Mannai Corporation Acquires Majority of Shares in GFI Informatique

April 07, 2016

Qatar-listed Mannai Corporation will complete on Friday the acquisition of 25% of GFI Informatique on a fully diluted basis, according to a bourse statement.

Such action is the first step to acquire most of the IT services group.

Mannai got an approval to acquire a 51% stake in GFI Informatique from the European Commission regarding the merger control, and the French Ministry of Economy concerning foreign investment in France.

Mannai previously announced that they entered into negotiations to purchase a 51% equity and voting rights stake on a fully diluted basis in the GFI Informatique at a price of €8.50 per share.