Mazaya Qatar Real Estate Development has decided not to proceed with the merger with Mackeen Holding, the former’s board of directors announced according to a press release carried by Qatar Exchange website.
The company said it pulled from the merger deal after economical and financial studies “demonstrated the absence of common benefits in this framework for both companies.” The two companies had announced their proposed merger last February following talks and consultations in this regard and had agreed then to commission a an international specialist office to evaluate the assets of the two companies in order to be submitted to the two general assemblies to make the final decisions on how the merger should be executed.
Source : Qatar News Agency
