Qatar major Mannai has withdrawn its offer to buy local EPC specialist Black Cat.
The Qatar News Agency reported that Mannai had informed Qatar Investment and Projects Development Company (QIPCO) that it would not be able to complete the purchase of Black Cat Engineering and Construction Company WLL within the agreed timetable.
Mannai is one of the largest trading companies in Qatar and its portfolio includes a major machinery arm. The group announced month that it plans to acquire Gulf jewelry player Damas as part of its regional growth strategy.
