Mubasher: Investment Holding Group’s (IHG) extraordinary general meeting (EGM) approved acquiring the remaining 39.6% stake in Engineering Systems.

The EGM also authorised the board of directors to obtain a QAR 100 million loan to pay the value of the stakes which will be bought over the coming period, according to a statement on Thursday to the Qatar Stock Exchange (QSE).

IHG previously stated in a statement that it owned a 60.4% indirect stake in Engineering Systems via another firm.

IHG last reported a 0.34% year-on-year profit increase during the second quarter of 2018, recording  QAR 8.89 million versus QAR 8.92 million.