Al Meera Holding Signs Joint Agreement with Saudi Company

Doha, February 15 (QNA) - Al Meera Holding Company LLC, a subsidiary of the Compan, has entered into a joint venture agreement with the United Electronics Company (UEC Extra), a Saudi joint stock company. Under this agreement, the parties agreed to set up a limited liability company (the "JVC") for the purposes of developing and operating a chain of consumer electronics retail stores in Qatar under the "eXtra" brand (owned by UEC), the company said in a statement published on the (Qatar Exchange) website. The JVC will be established in Qatar and it is envisaged that Al Meera Holding will hold 50% of the share capital of the JVC with the remainder 50% to be owned by UEC. 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. The United Electronics Company, established in 2003, is one of the largest retailers of electronic devices in the region. (QNA)