Today, Gulf International Services Company Q.P.S.C. (referred to as the “Group” and its symbol on the Qatar Stock Exchange: GISS), which is one of the largest companies in the region specialized in providing services to the oil and gas sector and operates in various sectors, that the Board of Directors of the company has agreed during its meeting held on February 13, 2023 to invite to hold the company's Extraordinary General Assembly meeting on March 13, 2023 to obtain shareholders' approval of the merger. The proposed merger of Amwaj Catering Services Limited (“Amwaj”), a wholly owned subsidiary of Gulf International Services Company, with specific entities of Al Shaqab Abella Catering Services (“Al Shaqab”) and Atyab Fruits and Vegetables (“Atyab”) , effective from January 1, 2023. The comprehensive merger of Amwaj includes an in-kind contribution from two new strategic shareholders, Tamween Capital Company (“Tamween”) and Abela International Qatar Company (“Abella”), both of which currently jointly own 100% of Al Shaqab. And kind.
The two new strategic shareholders in Amwaj, in addition to Gulf International Services Company, have agreed that the merger will enter into force as of January 1, 2023, and it is intended that a final agreement will be concluded between the parties, with the necessary regulatory approvals.