Gulf International Services Company, (referred to as the “Company”, and its symbol on the Qatar Stock Exchange: GISS), has successfully completed the evaluation process and negotiations with the Manaya Holding Group for a possible comprehensive merger of Amwaj Catering Services Limited (hereinafter referred to as “Waves”), It is a wholly owned subsidiary of Gulf International Services Company, with specific entities affiliated to Al Shaqab Abella Catering Services (hereinafter referred to as “Al Shaqab”) and Atyab Fruits and Vegetables (hereinafter referred to as “Atyab”). Whereas, "Q-Invest (LLC)" has been appointed as an exclusive financial advisor to Gulf International Services Company.
It should be noted that the three shareholders in the new entity are the Gulf International Services Company, which represents 100% of Amwaj Company, in addition to the Capital Catering Company (LLC) and Abella International Qatari Company (LLC). They each represent 100% of Al Shaqab and Atyab. The merger is expected to be completed in early 2023, subject to all parties signing definitive agreements and obtaining relevant regulatory approvals, as well as approvals from the companies' general assemblies. All details of the merger will be disclosed after the final agreement is reached.
About Al Shaqab and Atyab:
The selected Shaqab entities involved in the merger provide key solutions for hospitality and living support. This includes a range of services ranging from catering services to facility management services, as well as the provision of managed and serviced solutions for staff accommodation.
Atyab is engaged in the import and wholesale trade of food and non-food products, primarily providing services to Al Shaqab and other institutional clients. The company specializes in a wide range of dried, fresh and frozen foods and catering products, and operates a supply chain that enables it to support the requirements of its customers competitively.
It is worth noting that Al Shaqab and Atyab are owned by Manaya Holding Group (LLC).
About Amwaj:
Amwaj Catering Services was established in 2006 as a company wholly owned by Qatar Energy, then it 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 and camp management. 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 that include cleaning, concierge and dry-cleaning services to clients. Amwaj also provides distinguished and high-level hospitality services and VIP catering services, whether for small exclusive gatherings or large, high-level celebrations, and also provides catering services for weddings.