- QInvest LLC acted as the Exclusive Financial Advisor to GIS on this Merger.
Gulf International Service, announced today that the Company’s Board of Directors during its meeting on 13th Feb, 2023, has approved to call for the Extra-Ordinary General Assembly Meeting (“EGM”) scheduled for 13th March, 2023 to obtain the shareholders’ approval of the Merger. The proposed Merger of Amwaj Catering Services Limited (“Amwaj”), a wholly owned subsidiary of GIS, with selected entities of Shaqab Abela Catering Serivces Co. (“Shaqab”) and Atyab Fruits and Vegetables (“Atyab”) is intended to be effective from 1st January 2023. The Merger is an all-share combination of Amwaj with in-kind contribution from two new incumbent strategic merging shareholders (who are currently 100% joint owners of Shaqab & Atyab) namely – Tamween Capital W.L.L. (“Tamween”) and Abela Qatar International W.L.L. (“AQI”).
New strategic shareholders of Amwaj along with GIS have jointly agreed to make the Merger’s effective date as the 1st January, 2023 and will enter into definitive shareholders agreement alongside appropriate regulatory approvals.
QInvest LLC acted as the Exclusive Financial Advisor to GIS on this Merger. QInvest LLC is Qatar’s leading investment group with activities across the Middle East, Europe, Turkey, UK, and USA. In addition to investment advisory, QInvest provides world class investment banking advisory services to achieve the strategic objectives of its key clients.
