The Board of Salam International (SIIL) has approved the primarily full acquisition of Salam Bounian and the acquisition of a real estate property in Doha worth QR102.5m.
This was announced during the Company’s Board of Directors meeting held on Sunday.
The board initially approved the total acquisition of Salam Bounian (SBD), decide appointing financial and legal consultancy firm to study the possibility, feasibility, legality and requirements of the acquisition and authorising the Chairman to seek all necessary approvals from competent authorities. The board approved to acquire a real state property in Doha with flexible terms and conditions and preferred price with a value of around QR102.5m.
The board reviewed SIIL’s direct and indirect investments portfolio and authorised the investment branch to exit from some of the current investments that achieved its objectives and submit a report to the board on achieved results. The Board will held its next meeting on January 10 to review the results of the preliminary studies and to approve the primarily acquisition offer’s terms in order to be submitted to SBD and competent authorities.
Services and Insurance Sectors Push DFM Index Higher
The DFM General Index inched up to reach at 2,323.34 points on Wednesday 22nd May 2013.The index spending most of the session in the green zone added 3.99 points or 0.17 percent.
Market Cap
Key Sectors Turn QE Index Green
The QE Index continued pacing its way higher throughout the day to close its trading in the green territory at 9,085.9 on Wednesday 22nd May 2013, achieving 0.54 percent or 48.95 points for the sessi
ADX Index Dips but Volume Improves
The ADX General Index spending most of the session below the break – even line closed in the red at 3,503.38 points on Wednesday 22nd May 2013. The index trimmed 6.26 points or 0.18 percent for the e
Bonds seen consolidating after recent rally; lack of OMO hurts
Government bonds fell for a second consecutive session on Wednesday, continuing to retreat from a recent rally as the Reserve Bank of India has yet to announce bond purchases that had been widely exp