Qatar Real Estate Investments QREC.QA (Alaqaria) agreed to a takeover by Barwa Real Estate BRES.QA, the companies said on Sunday, in a deal creating Qatar's ninth-largest company with a market value of $3 billion.
Each Alaqaria share will be exchanged for 1.1 shares in Barwa, it said, adding that the deal values Alaqaria shares at 36.30 riyals per share and implies a 30.6 percent premium, a statement on the Qatari bourse website said.
Alaqaria shares were up 9.7 percent at 30.50 riyals in the wake of the deal, which was announced in early 2009.
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