Investment Holding Group (IHG), a Doha-based Investment Management company, is mulling plans to acquire Elegancia group, a business supplies and equipment conglomerate also located in the Qatari capital.
IHG’s board of Directors, Zawya notes, indicated to the Qatar Stock Exchange that it has approved the acquisition pending a detailed study.
Elegancia Group on its LinkedIn account says it employs up to 10,000 people and spans four major divisions in the sectors of Services, Industries, Healthcare, and Contracting.
The privately held company is currently developing two hospitals in the Gulf country.
IHG on the other hand, established in 2008, employs up to 5,000 workers, and specializes in construction and contracting.
The listed company posted a 2020 net profit of 27.1 million Qatari riyals ($7.4 million), half of what it posted in 2019, Zaywa reports.
Qatar-based Investment Holding Group (IHG) contemplates acquiring Elegancia Group
