Complete Liquidation Process of Assets of Fereej Real Estate Co.

Doha, December 29 (QNA) -Al-Koot Insurance and Reinsurance Company, a subsidiary of Gulf International, announces 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 QR 170,000,000 or 34% to Industries Qatar, QR 165,000,000 or 33% to Al-Koot and QR165,000,000 or 33% to Al-Aqariya. 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 after completing all necessary settlements.(QNA)