Doha, October 24 (QNA) – The Board of Directors of Baladna Company (a Qatari public shareholding company) has approved the acquisition of Baladna Food Industries Company, a subsidiary of Baladna Company, of a 75% stake in E-Life Detergent Factory, after obtaining all the necessary approvals.
A statement issued by Baladna, which was posted on Qatar Stock Exchange website, said that the board of directors, in its meeting held today, agreed to invite for an Extraordinary General Assembly Meeting and invite the shareholders to vote to move forward with the acquisition plans, after obtaining the approval of the Ministry of Commerce and Industry.
Baladna was established in 2019 and was listed on the Qatar Stock Exchange in the same year, with an authorized capital of one billion and 901 million riyals, and a number of tradable shares of one billion and 425 million and 750 thousand shares.
E-life Detergent Factory is a local Qatari limited liability company into manufacturing detergents based in the State of Qatar, started its operations in January 2022, and its products are sold in Qatar and the Kingdom of Saudi Arabia, the company has three production lines (detergents, soaps and perfumes), and sells its products under the brand “LOR’X”.
(QNA)