Qatari Diar enters exclusivity agreement with Cegelec Group

Cegelec is a technological solutions and services integrator and designs, installs and maintains systems and sub-systems for the industrial, infrastructure and tertiary sectors.

Cegelec has 25,000 employees in approximately 30 countries worldwide.

Qatari Diar will provide the Cegelec Group the benefit of a stable shareholder combining financial strength and a strong experience in successful partnerships with major international groups.

Qatari Diar will further reinforce Cegelec's position in its' key markets, particularly in France and to support its' international development, especially in the Middle East.

Qatari Diar Chief Executive, Ghanem Saad al Saad said "this acquisition is an extraordinary opportunity for Qatari Diar.

We are very proud to leverage on an experienced management and dedicated teams.

Cegelec, in partnership with Qatari Diar, will enjoy exciting development prospects.

Qatar benefits from a significant economic and urban growth. Cegelec fits perfectly with our expansion strategy".

Qatari Diar was advised by UBS, Merrill Lynch and The First Investor as M&A advisors, Baker & Mckenzie and Darrois Villey Maillot Brochier as legal counsels and Accuracy for the financial due diligences.