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.