Bahrain Tourism Company (BTC) has signed seperate Memorandum of Understandings (MoU) with Gulf Hotels Group (GHG) and Al Jazeera Tourism Company (AJTC) to evaluate the feasibility of a merger.
GHG has expressed an intent to acquire 100% of the outstanding shares of BTC though a securites exhange offer.
AJTC has also expressed an intent to merge its operations with BTC through a securities exchange offer.
BTC has set up a merger committee and appointed a financial advisor to chase the transaction, subject to getting shareholder approval and seeking the necessary regulatory consents.
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