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Mon 13 Jul 2009 10:46 AM

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Barwa eyes merger plans for subsidiaries

Barwa looking into merger of real estate, hotels, resorts and maintenance services.

Barwa eyes merger plans for subsidiaries
MERGER PLANS: Doha-based Barwa is looking to merge its subsidiaries. (AFP)

Qatar-based Barwa is looking to merge its subsidiaries a spokesman for the real estate firm said on Monday.

Barwa, which itself is due to merge with Qatar Real Estate Investment Company, said it has already initiated a study which would see its real estate management, hotels and resorts and maintenance services merge and put into a separate entity, according to Gulf Times.

“The name of the new company which will be resulted from the merger process, the capital and legal entity, will be determined after completion of the study, a Barwa spokesperson said.

The global financial crisis has forced many Qatar-based firms to merge. The Gulf country has so far confirmed merger talks from Ezdan Real Estate (and Group of International Housing Company), First Finance Company (Barwa Bank), Agility Qatar (Gulf Warehousing), Gulf Holding Company (Qatari Investors Group) and Qatar Meat & Livestock Company (Al Meera Consumer Goods).