Aamal, a Qatari public shareholding company, announced the approval of its Board of Directors for the acquisition of the Real Estate Maintenance and Management Solutions Company (MMS) by its subsidiary, Aamal Services, from a related party, namely Al-Faisal Holding.
In a statement published on the Qatar Stock Exchange website, the company said that Aamal Services has acquired 100 percent of MMS for QAR 21.8 million, the value given to it by an independent assessor. The acquisition will be entirely financed from within the Company rather than via any bank loans, it added.
The Aamal company carries out various activities. Meanwhile, MMS is one of the leading companies in Qatar specializing in providing a range of air conditioning, electricity, sanitary maintenance, cleaning, and hospitality services inside buildings and shopping malls. On the other hand, Aamal Services, a subsidiary, is responsible for sewage transportation, bus rental with drivers, facility management, and trading in cleaning equipment, among other activities. (QNA)
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