Bahrain Tourism Company explores hotels merger
 

Bahrain Tourism Company explores hotels merger
http://img-s-msn-com.akamaized.net/t...6&q=60&o=f&l=fBahrain Tourism Company (BTC) has signed seperate Memorandum of Understandings (MoU) with Gulf Hotels Group (GHG) and Al Jazeera Tourism Company (AJTC) to evaluate the feasibility of a merger. GHG has expressed an intent to acquire 100% of the outstanding shares of BTC though a securites exhange offer. AJTC has also expressed an intent to merge its operations with BTC through a securities exchange offer. BTC has set up a merger committee and appointed a financial advisor to chase the transaction, subject to getting shareholder approval and seeking the necessary regulatory consents. RELATED ARTICLES: Bahrain-Alba-seeks-rating-ahead-of-3-5bn-project , Bahrain-PM-launches-causeway-and-tunnel-projects , Cluttons-appointed-to-sell-luxury-Bahrain-project ,