Doha, November 20 (QNA) – Al Meera Holding, a subsidiary of Al Meera Consumer Goods Company, and Al Meera Development Company have signed a Sale and Purchase Agreement (SPA) to buy assets of the Sultanate of Oman based Safeer stores, according to a Qatar stock exchange (QE) Tuesday.
The SPA entails Al Meera Holding acquiring hypermarkets and supermarkets assets under the Safeer brand name and operated by its entities at Al Falaj, Al Khuwair, Athaiba, Sohar and Barka in the Sultanate of Oman.
Al Meera Holding and Al Meera Development, both limited liability companies, along with the National Investment Funds Company (NIFCO, (SAOC, Oman closely held company) are in the process of incorporating two subsidiary companies in the Sultanate of Oman, namely Al Meera Oman (SAOC) and Al Meera Markets (SAOC) to manage the business acquired in Oman.
Al Meera Holding will have a 69% stake, NIFCO will hold 30% while Al Meera Development will have 1%, the QE report added. (QNA)