Dur Hospitality, Taiba Investments mull merger

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Riyadh

Dur Hospitality and Taiba Investments said they would start preliminary discussions about a possible merger.

The pair made the disclosure in separate statements to the Saudi stock exchange on Sunday.

It comes amid a wave of merger and acquisition activity in the Kingdom and wider Gulf region as corporations reposition themselves in the post-pandemic world.

Dur develops, owns and manages hotels, restaurants, recreational centers and travel agencies. It also provides services to Umrah pilgrims, in addition to developing residential, hotel and commercial buildings, Argaam reported.–AN

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