Al Meera Holding Enters into Joint Venture Agreement with Casino Guichard-Perrachon

Doha, February 01 (QNA) - Al Meera Holding Company LLC, a subsidiary of the Company, has entered into a Joint Venture agreement with Casino Guichard-Perrachon, a public company incorporated in France. Under this agreement, the Parties agree to set up a limited liability company (the "JVC") for the purpose of managing and facilitating the cooperation between the Parties in connection with the development of partnerships in retail business, according to a statement published on the (Qatar Exchange) website today. The JVC will initially manage the Parties cooperation in Tunisia, Libya, Egypt and Jordan. The JVC will be registered with the corporate name ALGE Retail Corporation LLC (SARL). The headquarters of the Company shall be in Geneva, Switzerland. Casino will hold 49% and Al Meera 51% of the Share capital of the JVC. Al Meera Consumer Goods Company was established in 2004 and listed on the Qatar Exchange in 2009. Al Meera conducts direct sales of fruits and vegetables, meat, fish, fresh food and similar items. Al Meera has recently developed its shops in cooperation with a reputable international consultancy house to meet international standards in aspects such as interior design, marketing, promotion, and other technical and operational aspects. (QNA)