Doha, Qatar 29 December 2022 - Gulf International Services (“GIS”; QE ticker: GISS), has successfully accomplished valuation and negotiations with Manaya Holding Group, in relation to a potential all-share merger of Amwaj Catering Services Limited (“Amwaj”), wholly owned subsidiary of GIS, with selected entities of Shaqab Abela Catering Services Co. (“Shaqab”) & Atyab Fruits and Vegetables (“Atyab”), with QInvest LLC acting as exclusive financial adviser to GIS.

 

The merged entity will have three shareholders namely – Gulf International Services representing 100% of Amwaj alongside Tamween Capital W.L.L. and Abela Qatar International W.L.L. both representing 100% of Shaqab and Atyab. The merger is expected to be accomplished during early 2023 subject to all shareholders entering into definitive agreements and proceed to obtain regulatory approvals, along with respective general assembly meeting approvals. Upon a definitive merger agreement, full details about the merger will be announced.

 

About Shaqab & Atyab:

Selected entities of Shaqab included in the merger provide flagship hospitality and life support solutions. This includes services ranging from catering to facilities management services, as well as provision of managed and serviced staff accommodation solutions. 

 

Atyab is an importer and wholesaler of food and non-food products, primarily serving Shaqab and other institutional clients. The Company specializes in a wide range of dry, fresh & frozen food, catering-related products and operates a supply chain, allowing it to support its clients’ requirements competitively.

 

Shaqab and Atyab are owned by Manaya Holding Group W.L.L. 

 

About Amwaj:

Amwaj was incorporated in 2006 as a wholly owned subsidiary of QatarEnergy, and was subsequently 100% acquired by Gulf International Services (GIS) on 1 June 2012. In addition to its original objective of providing high quality catering services, Amwaj has diversified to encompass cleaning, pest control, manpower supply, facilities management, camp management, retail and VIP catering. With soft facility management services, which include commercial cleaning services that cover both internal and external areas, the company offers comprehensive and efficient services that include cleaning & janitorial and laundry services for clients. Amwaj also offers distinguished and high-quality corporate hospitality and VIP dining services for small exclusive gatherings or large high-profile celebrations, along with catering for Wedding Banquets, etc. 

 

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