(MENAFN - Qatar News Agency) Alijarah Holding - previously known as National Leasing Holding - will acquire a 100% stake in Al Nasr Modern Driving School and Petro Qatar, the leasing, equipment and transportation, property development and hospitality services company has said.
The approval for purchasing the driving school was given by the board at the company's Extraordinary General Assembly meeting held here Tuesday, according to a Qatar Exchange notification Wednesday. However, the proposed acquisition is subject to regulatory authorities' approval. Explaining the reasons for acquisition, Alijarah Board of Directors' Vice-Chairman Salem bin Butti Al Nuaimi said, "Alijarah Holding will acquire both Al Nasr Modern Driving School and Petro Qatar for Industrial Projects by 100% in order to achieve the strategies adopted by the group to expand the business and develop its resources."
The plan to acquire Petro Qatar will contribute to the development of the group since Alijarah Holding owns Alijarah Limousine company which operates taxi services.
This move will significantly increase the number of vehicles in its fleet, he said.