Dur, Taiba end talks on potential merger

Logos of Taiba Investments Co. and Dur Hospitality Co.

The boards of directors of Dur Hospitality Co. and Taiba Investments Co. decided to end the talks for a potential merger, both companies said in separate bourse statements today, March 13.

Dur’s board affirmed that its strategic vision will enable it to continue developing the services provided by the company to serve the interests of its shareholders, customers and employees and enhance its leadership and competitive position.

On the other hand, Taiba’s board also underlined its commitment to achieve its vision to be at the forefront of investment and real estate development, and to continue growing to benefit its shareholders, employees and partners.

Meanwhile, the two companies added that costs of advisory services in relation to the negotiations were incurred, but no financial impact is expected.

In June 2021, Dur and Taiba said they will start preliminary discussions for a possible merger, Argaam earlier reported.

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