Alaqaria shareholders vote for Barwa merger

Barwa has offered 1.100 Barwa shares for each Alaqaria share

Barwa has a number of big projects on the go in Qatar.
Barwa has a number of big projects on the go in Qatar.

RELATED ARTICLE: 10 Qatari projects you should be involved in

Shareholders of Qatar Real Estate Investment Company (Alaqaria) have approved the company's plans to combine its business with Barwa Real Estate Company.

Shareholders representing 77.5% of Alaqaria's outstanding share capital attended the extraordinary general meeting (EGM) and approved the terms of and conditions of the proposed transaction, which will create the largest listed real estate company in Qatar by assets and the GCC's sixth largest listed real estate group by market capitalisation.

Commenting on the shareholder approval of the transaction, Sheikh Khalid Bin Khalifa Al Thani, chairman of Alaqaria, said: "Today is a historic day for Alaqaria as it takes the company one step closer to combining its business with that of Barwa."

Barwa is offering to acquire, subject to the terms and conditions set out in the Offer Document, each Alaqaria share in exchange for 1.100 shares in Barwa.

This exchange ratio represents a 30.6% premium over Alaqaria's closing share price on 7 January 2010, the trading day prior to the announcement of the initial terms of the transaction.

Most popular


CW Oman Awards 2020: Meet the winners
A round of the thirteen winning names at the Construction Week Oman Awards 2020 that


Leaders UAE 2020: Building a sustainable, 'resilient' infra
AESG’s Phillipa Grant, Burohappold’s Farah Naz, and Samana's Imran Farooq on a sustainable built environment
CW In Focus | Inside the Leaders in KSA Awards 2019 in Riyadh
Meet the winners in all 10 categories and learn more about Vision 2030 in this

Latest Issue

Construction Week - Issue 767
Sep 01, 2020