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Non-Binding Offer For Qatar Steel's Stake In Foulath Holding
(MENAFN- The Peninsula)
The Peninsula
Doha: Industries Qatar (“IQ” or“the Group”; QE Ticker: IQCD), announces that its steel segment associate, Foulath Holding B.S.C. (Foulath), has received a non-binding offer for the acquisition of 100 percent of its share capital. Foulath, based in Bahrain, is 25 percent owned by Qatar Steel Company Q.P.S.C. (Qatar Steel), a wholly-owned subsidiary of IQ.
The offer is subject to further due diligence and further details will be disclosed upon completion of the process.
Industries Qatar Q.P.S.C. was incorporated as a Qatari joint stock company on April 19, 2003.
The operations of the subsidiary and joint ventures remain independently managed by their respective management teams.
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