Qatar’s United Development been courted by potential investor

The new potential investor is being represented by Qatar National Bank
Qatar’s United Development been courted by potential investor
Qatar stock exchange, Qataris
By Reuters
Sun 26 Feb 2012 02:57 PM

United Development Co. (UDCD), a Qatari investor in infrastructure and energy, said an investor is seeking to become a strategic shareholder in the company.

The company received a new letter from Qatar National Bank, representative of an investor, indicating it “still wants to join the company as a strategic shareholder by way of increasing the capital,” according to a statement on the Qatar bourse on Sunday.

United Development said on Jan 29 that an investor pulled a request to buy a stake in the company after seeking to change the terms of an offer.

Qatar’s Pension and Social Insurance Authority offered to buy 80 million stocks of United Development for 20 riyals a share to become a “strategic shareholder” in the company, United Development said on Dec. 28.

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