(MENAFN - Qatar News Agency) Mannai Corporation announced that they had informed Qatar Investment and Projects Development Company (QIPCO) WLL that it will not be possible to conclude the acquisition of Black Cat Engineering and Construction Company WLL within the agreed timetable.
The QIPCO Board has accordingly indicated in the circumstances its preference to withdraw from the transaction and this has been mutually agreed with the Mannai Corporation Board, according to a statement published on the (Qatar Exchange) website.
Mannai Group was founded in 1951. It became a Public Company and its shares were listed on the Qatar Exchange in 2007.
Mannai Corporation offers the broadest range of products and services of all private sector companies in Qatar, with businesses spanning the oil and gas sector, automotive distribution, information and communication technology, consumer products, travel services, logistics and representation and others.
Since its establishment in 1981, the Black Cat Engineering and Construction Company have evolved into one of the leading EPIC and Maintenance Contractors for the Oil and Gas Industry in Qatar.