Qatar Shipping and Qatar Navigation merger approved

The boards of Qatar Shipping Co and Qatar Navigation have given the green light for a proposed merger, Gulf Times has reported. Under the terms of the transaction, Qatar Navigation will acquire all the outstanding shares of Qatar Shipping in exchange for new shares of Qatar Navigation. The deal, which is subject to shareholders' approval, will create a company capable of a leading role in Qatar with the potential of a major regional role and international presence, the two firms said in a joint statement.