Liquidation of the assets of Fereej Real Estate company

Liquidation of the assets of Fereej Real Estate company

02-01-2012

DOHA, QATAR – Al-Koot Insurance and Reinsurance Company QSC would like to inform its shareholders that it has completed the liquidation process of the assets of Fereej Real-estate Company, which is 33% owned by Al-Koot Insurance and Reinsurance Company.

Fereej Real-estate Company was established in 2008, with a paid up capital of QR 300 million and was then increased to QR 500 million, divided as stated below:

The process of liquidation comes in the frame of following up with the Qatari market’s updates and the development of performance in that sector. As a result of the liquidation process, Al-Koot Insurance Company has recovered its shares of QR 156.5 million after completing all necessary settlements.

 

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