Mubasher: Mannai Corporation on Thursday has announced that it is looking to present a buy-out offer to the French financial markets authority (AMF)  followed by a squeeze-out for the remaining shares of Gfi Informatique.

Mannai, which holds 96.60% of the share capital and voting rights of Gfi Informatique, will buy the remained stake at a price of EUR10.5 per share, according to the company’s statement to the Qatar Stock Exchange (QSE).

The acquisition process will be subject to the appraisal of an independent expert in accordance with applicable French regulation.

Moreover, the Qatari firm has appointed Finexsi as an independent expert to appraise the fairness of the financial conditions of the contemplated offer.

“The buy-out offer followed by a mandatory squeeze out will be subject to the AMF clearance and is expected to be filed in October 2018,” the statement highlighted.

In June, Mannai revealed that it has acquired an additional stake in the French GFI Informatique from Apax France, Altamir and Boussard & Gavaudan, through off-market transactions.

The company bought 10.206 million shares, representing 15% of the share capital and voting rights of GFI Informatique.

By the end of Tuesday’s session, Mannai’s stock rose 0.68% at QAR 57.55.