Gulf International Services Company is in the process of a possible merger of "Amwaj" with "Shaqab"

06-06-2022


Gulf International Services Company (the “Company” and Qatar Stock Exchange: GISS) has entered into an interim agreement with the Manaya Holding Group for a possible comprehensive merger of Amwaj Catering Services Limited (hereinafter referred to as “Amwaj”), a company A wholly owned subsidiary of Gulf International Services Company, with specific entities affiliated with Al Shaqab Abela Catering Services Company as well as Atyab Vegetables and Fruits.
The potential merger will result in the establishment of a fully Qatari services company of a large size, while it is expected to make a positive contribution to the field of catering and manpower services provided to the industrial sector in Qatar. After the merger, the new entity will continue to support corporate business activities, including small and medium-sized businesses, by providing a wide range of services.
With its objective to contribute positively to the economy of Qatar, the potential merger will add value in light of the implementation of the strategic North Field project and the general expansion of the energy sector. It will also pave the way towards establishing a strategic partnership between the public and private sectors.
This leading local entity with a lot of competitive advantages is expected to provide better avenues for growth, in addition to benefiting from significant synergies at the operational and commercial levels, which will add value in the medium and long term to all stakeholders, including shareholders of each company.
It should be noted that the potential merger is contingent upon the completion of the detailed evaluation process, reaching final agreements among the concerned shareholders and obtaining regulatory approvals, in addition to fulfilling other relevant requirements to complete the process. More details about the merger will be announced once a final agreement is reached.
About Shaqab and Atyab:
The selected Shaqab entities included in the merger will provide key solutions for hospitality and living support. This includes a range of services ranging from catering services to facilities management services, as well as providing managed and serviced solutions for employee accommodations.
Atyab is engaged in the import and wholesale of food and non-food products, providing its services primarily to Shaqab and other institutional clients. The company specializes in a wide range of dried, fresh and frozen food and catering products, and manages a supply chain that enables it to competitively support the requirements of its customers.
It is worth noting that Shaqab and Atyab are owned by the Manaya Holding Group LLC.
About Amwaj:
Amwaj Catering Services was established in 2006 as a wholly owned company of Qatar Energy, then was acquired by Gulf International Services Company on June 1, 2012. In addition to its primary objective of providing high quality catering services, Amwaj has diversified its services to include cleaning, pest control, manpower supply, facilities management and camps , as well as catering services for individuals and VIPs. Through its facilities management services that include commercial cleaning services for indoor and outdoor areas, Amwaj provides comprehensive and efficient services including cleaning, janitorial and dry-cleaning services to clients. Whether for small exclusive gatherings or large high-profile celebrations, Amwaj also offers premium and high-class hospitality and VIP catering services, as well as wedding catering.


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