Doha – Mubasher:  Mannai Corporation has acquired an additional 12% of the capital of Gfi Informatique from Apax France and Altamir, according to a bourse filing on Tuesday.

The acquisition process was completed through an off-market transaction affecting 8.06 million shares at a price of EUR 8 per share.

“Following this acquisition, Mannai holds 64% of the capital and voting rights of Gfi Informatique, whereas Apax France and Altamir hold only 6%,” according to the company’s statement.

“Mannai will further acquire off market from Boussard & Gavaudan a stake representing 17% of the share capital and voting rights of Gfi Informatique in July 2017,” the statement added.

It will also acquire 15% of the capital and voting rights of Gfi Informatique from Apax France, Altamir, and Boussard & Gavaudan in 2018.

Apax France, Altamir, and Boussard & Gavaudan hold 95% of the capital and voting rights of Gfi Informatique.

Mannai had previously reported a slight increase of 0.43% in net profits to reach SAR 535.1 million in 2016, compared to SAR 532.8 million in 2015.