Tribune News Network
Doha
Gulf International Services (GIS) has successfully accomplished valuation and negotiations with Manaya Holding Group, in relation to a potential all-share merger of Amwaj Catering Services Limited (Amwaj), a wholly owned subsidiary of GIS, with selected entities of Shaqab Abela Catering Services (Shaqab) and Atyab Fruits andVegetables (Atyab).
According to a statement issued on the occasion, QInvest will act as the exclusive financial adviser to GIS.
The merged entity will have three shareholders namely – Gulf International Services representing 100 percent of Amwaj alongside Tamween Capital and Abela Qatar International both representing 100 percent of Shaqaband Atyab.
The merger is expected to be accomplished during early 2023 subject to all shareholders entering into definitive agreements and proceeding to obtain regulatory approvals, along with respective general assembly meeting approvals. Upon a definitive merger agreement, full details about the merger will be announced.
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 the provision of managed and serviced staff accommodationsolutions.
Atyab is an importer and wholesaler of food and non-food products, primarily serving Shaqab and other institutional clients. The Company specialises in a wide range of dry, fresh, and frozen food, and 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.
Amwaj was incorporated in 2006 as a wholly owned subsidiary of QatarEnergy and was subsequently 100 percent acquired by GIS on June 1, 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 and 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.
