Mubasher: Mannai Corporation on Wednesday announced its acquistion of an additional stake in the French GFI Informatique from Apax France, Altamir and Boussard & Gavaudan, through off-market transactions.
Mannai bought 10.206 million shares, representing 15% of the share capital and voting rights of GFI Informatique, according to Mannai’s filing to the Qatar Stock Exchange (QSE).
After completing the transaction, Mannai will have 96% of the share capital and voting rights of GFI Informatique, while Apax France, Altamir and Boussard & Gavaudan will no longer hold shares in the company.
The transaction’s total cost amounted to $102 million, according to statistics compiled by Mubasher.
GfI Informatique is considered an expert IT service provider in the Middle East, Europe, and Africa.
It is worth noting that Mannai’s profits rose 1.4% year-on-year to QAR 91.4 million ($25 million) in the first quarter of 2018.
