Qatari German Medical Devices Company announced that reference to article (5) of resolution (2) of 2014 of Qatar Financial Markets Authority on the issuance of Merger & Acquisition law, we are pleased to disclose that the Board of Directors of the company intend to sign a preliminary agreement aiming to conduct a valuation of Elegancia Company LLC, which is a non-listed QSE listed, operating in the industrial and services sectors. The purpose of the valuation will be for the acquisition of the company through a share swap deal. It also aims to reach a fair offer to be submitted to the shareholders of Elegancia and the regulatory bodies for approval in accordance with the laws and regulations in force in the State of Qatar.
It is worth noting that the notion of the acquisition was proposed by the Board of Directors to diversify the company’s activities to further improve its performance and promote its productivity. Once the studies are completed and valuations are prepared, the company will communicate with regulators and all parties involved to decide as to whether or not the transaction be completed.