02-10-2025
Doha, Qatar – 2 October 2025 – Aamal Company Q.P.S.C. (Aamal), one of the region’s largest and most diversified companies, is pleased to announce that its Board of Directors has approved a number of important investment decisions.
Following Aamal’s earlier disclosure regarding a potential change in the Company’s ownership of ECCO Gulf, the Board has today approved the sale of Aamal’s 51% stake in ECCO Gulf W.L.L. to its foreign partner Majorel Group Luxembourg S.A. for an amount of EUR 8,500,000, equivalent to approximately QAR 36.4 million[1]. As a result of this transaction Aamal expects net profit of approximately QAR 13.5 million to be realized at the year end. The Compnay’s decision to divest its shares in the business was mainly due to the recent acquisition of Aamal’s partner in ECCO Gulf, as well as the desire to focus more on other investments which better align with Aamal’s strategic direction.
The Board also approved the establishment of a new company in the State of Qatar, operating in the oil and energy services sector, as a joint venture between Aamal Readymix (with a 60% ownership) and Mohammed Al Barwani Oil Services – an Omani limited liability company – (with a 40% ownership).