Bahrain Tourism Company (BTC) is currently evaluating the feasibility of merger with Gulf Hotels Group and Al Jazeera Tourism Company, according to a bourse filing.
Bahrain Tourism Company said that its work is in progress in assessing the possibilities, after signing a memorandum of understanding (MoU) separately with Gulf Hotels Group (GHG) and Al Jazeera Tourism Company (AJTC) to evaluate the feasibility of merger or acquisition.
“GHG had expressed intent to acquire 100% of the outstanding shares of BTC through a securities exchange offer,” said BTC in the filing.
Subsequently, AJTC expressed intent to merge its operations with BTC through a securities exchange offer.
