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FINANCIAL NEWS
Qatar’s Al Meera merges with Giant Stores
28 Nov 2011
(MENAFN) Qatar-based Al Meera Holding said it closed the acquisition deal for the retail chain Giant Stores, in a bid to strengthen its position, Arabian Business reported.
The deal was worth an additional USD96 million in additional revenue, said Al Meera. Al Meera plans to add another 200,000 sqm of retail space in the next few years.
Under the terms of the acquisition, Giant Stores and its subsidiaries will be rebranded over the coming months.
It is worth mentioning that Giant Stores operates in Qatar since 2003, and runs four stores, with the main branch at the Hyatt Plaza with an area of 13,000 sq m.
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