Doha Insurance Group announces the withdrawal from the potential merger partnership deal with Al Koot Insurance and Reinsurance Company, a fully owned subsidiary of Gulf International Services Company
With reference to our prior correspondence with you regarding the potential merger partnership deal between Doha Insurance Group and Al Koot Insurance and Reinsurance Company, a wholly-owned subsidiary of Gulf International Services Company.
We wish to inform you at this time, that the preliminary negotiations that have taken place between the two parties regarding this potential merger deal, have not arrived at a common vision that would lead to an initial agreement that achieves the mutual interests of the shareholders of the two companies.
Accordingly, the two parties have decided to halt end negotiations and to withdraw completely from the proposed merger partnership deal.
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