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Al Meera to buy Oman retail chain

Qatar's Al Meera Holding, a subsidiary of Al Meera Consumer Goods Co, has signed a memorandum of understanding to acquire Safeer Arabian International, which operates one hyper and four supermarkets in Oman, Gulf Times has reported. "Our expansion strategy is in full swing. With a strong foothold in Qatar, we are looking outwards to transfer knowledge and expertise in other markets to mirror our successes in Qatar. Our MoU with Safeer Arabian International is an additional step in fulfilling our on-going strategy," said Al Meera's deputy CEO, Mohamed Nasser al-Qahtani. Al Meera Consumer Goods recently announced plans to raise QR950m through a rights issue to support its expansion plan.