Buyers Evince 'Interest' in Qatarlyst Sale

Doha, January 2 (QNA) - Qatarlyst Group has received "expressions of interest from several potential buyers" either for divestment or forge a new partnership, the company said Wednesday. "The QFCA Board believes that Qatarlyst has now reached a reasonable stage of maturity, where divestment to, or entering into a new partnership arrangement with, a strong third party may be the best option to leverage the current positive situation, develop the business and secure wider market acceptance," Qatarlyst said in a media statement today. PricewaterhouseCoopers has been appointed as independent consultants to manage either the divestment or partnership search for the insurance company. White and Case LLC will assist it on legal matters. Qatarlyst Deputy CEO Khalid Al Mughesib is leading the negotiation process with all interested parties as the shareholder's representative. Qatarlyst will keep its valued customers and suppliers informed of further developments and business will continue as usual, the company said. (QNA)