Bahrain Tourism exploring merger with hotel groups

September, 25th 2015

Bahrain Tourism Company (BTC) has signed seperate Memorandum of Understandings (MoU) with Gulf Hotels Group (GHG) and Al Jazeera Tourism Company (AJTC) to evaluate the feasibility of a merger.

GHG has expressed an intent to acquire 100% of the outstanding shares of BTC though a securites exhange offer.

AJTC has also expressed an intent to merge its operations with BTC through a securities exchange offer.

BTC has set up a merger committee and appointed a financial advisor to chase the transaction, subject to getting shareholder approval and seeking the necessary regulatory consents.

Source: www.hoteliermiddleeast.com