Investment Holding Group acquires Elegancia Group – The Peninsula

Investment Holding Group acquires Elegancia Group – The Peninsula

The General Assembly of Investment Holding Group approves the acquisition of Elegancia Group

The acquisition of Elegancia will play a major role in the expansion of the company through venturing in new business sectors namely healthcare, services, contracting and industries.

The company will have access to a bigger and more diverse customer base and will drive growth both in Qatar and abroad which in turn will increase shareholder value.

Investment Holding Group (IHG) held the Ordinary and Extraordinary General Assembly meeting on Monday, April 11th at the Sheraton Doha. The Extraordinary Assembly took the following decisions:

1) Approved The acquisition of Elegancia Group W.L.L (“Elegancia”) by way of share swap (the “Transaction”) pursuant to Article 45 of the Offering & Listing of Securities on the Financial Markets Rulebook of the QFMA, Article 195 of the Companies Law, and Article 2 of the QFMA M&A Rules.

2) Approved the summary of the acquisition agreement entered into between IHG and Elegancia dated 10 March 2022 (including as an annex the agreement between IHG and the Elegancia (the “Elegancia Owners”) dated 9 November 2021) (the “Acquisition Agreement”).

3) Approved the process that resulted in the agreed Share Swap Ratio.

4) Approved the increase of the authorised and paid up share