Aamal Company, listed on the Qatar Stock Exchange, announced that its Board of Directors approved increasing its stake in Frijns Steel Construction Middle East by acquiring an additional 20% stake from a related party.
According to the company’s statement on the Qatar Stock Exchange today, Tuesday, this deal comes in line with the company’s efforts to implement its growth strategy and strengthen its position in the industrial production sector.
The company confirmed that this step reflects its commitment to continue developing its industrial activities in a way that enhances its position as one of the most prominent diversified companies in the region.
Frijns Steel Construction Middle East is one of the leading industrial companies in Qatar, operating in the local market since 2009, and specializes in the production of steel for the petrochemical industries and other process industries, including all engineering, production, corrosion control, construction and assembly works related to it.
Aamal currently owns a 20% stake in Frijns Steel Construction Middle East, and with the acquisition of this additional stake, its total ownership will increase to 40%.
The company noted that the acquisition is based on an independent assessment conducted to ensure compliance with best practices of transparency for all parties.