Qatar America Asia Consortium Acquires 100% Stake in Qatar Engineering & Construction Company

Qatar America Asia Consortium, a joint venture of Unicorn Investment Bank, Qatar First Investment Bank, and The First Investor, has completed its acquisition of 100% stake in Qatar Engineering & Construction Company W.L.L (Q CON) from Qatar Shipping Company Q.S.C. This significant deal marks a major milestone in the engineering and construction sector, with Q CON providing essential services to oil & gas and power industries. The acquisition is a strategic move by the Qatar-based consortium to expand its presence in the region's infrastructure development.

Key Takeaways:

• The Qatar America Asia Consortium has acquired a 100% stake in Qatar Engineering & Construction Company W.L.L (Q CON) from Qatar Shipping Company Q.S.C. for $110 million.
• The consortium, comprising Unicorn Investment Bank, Qatar First Investment Bank, and The First Investor, will hold a majority stake in Q CON, with QFIB and TFI holding 41% each, and Unicorn holding the remaining 18% stake.
• The acquisition aims to expand the consortium's presence in the region's infrastructure development, particularly in the engineering, procurement, and construction services sector.
• Qatar Engineering & Construction Company W.L.L (Q CON) is a leading provider of engineering, procurement, and construction services to the oil & gas and power industries.
• The deal was announced on May 27, 2009, with the board of directors of Qatar Shipping Company Q.S.C. approving the sale agreement on September 16, 2009.
• The acquisition is expected to have significant implications for the engineering and construction sector in the region, with the Qatar-based consortium set to play a major role in future infrastructure projects.

Statistics:

• The acquisition price of $110 million for 100% stake in Q CON.
• The consortium will hold 100% ownership of Q CON, resulting in a significant increase in its control over the engineering and construction services business.
• Q CON provides engineering, procurement, and construction services to the oil & gas and power industries, with a focus on the Middle Eastern region.
• The deal was completed in 2009, with the acquisition price representing a significant investment in Q CON's operations and future growth prospects.
• The acquisition is expected to have a positive impact on the engineering and construction sector in the region, with increased investment and expansion anticipated.

Sources:

• Datamonitor Financial Deals Tracker, September 16, 2009.
• COMTEX, November 12, 2009.
• Datamonitor Financial Deals Tracker, May 27, 2009.
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