Qatar Company Acquires Shares of ‘Kothari’ Firm

Qatar Royal Family Acquires Stake in Chennai-Based Kothari Industrial Corporation

Chennai, Dec. 14- An agreement has been signed to acquire 10 percent stake in Chennai-based Kothari Industrial Corporation, owned by the Qatar royal family.

Kothari’s company KICL is involved in businesses in various sectors such as fertilizers, food, electronic solutions, healthcare, mining, drones, and footwear.

KF Global and Investment has entered into an agreement to acquire 10 percent stake, or 70.56 lakh shares, in the company with a 125-year-old heritage.

The approval for this has been given by the KICL board of directors. KF, a company owned by former Qatar minister and founder of Doha Bank and Qatar Airways, Balah Jassim J.M. Al Thani, Global.
Kothari’s board of directors has also approved the establishment of a new company in Qatar with KF Global.
Kothari’s share in the new company will be 70 percent.

Furthermore, ‘Phoenix Kothari Footwear’ is setting up its first non-leather footwear manufacturing company in Perambalur.

The company believes that the new investment from the Qatar royal family will greatly help in the growth of their business.
Besides, Kothari’s company will open its first ‘Kickers’ brand footwear showroom in Chennai today.
Kothari’s company will sell Kickers brand footwear in India by obtaining a 30-year license from the French ‘Royer’ group.

Furthermore, this license is also valid for the sale of Kickers footwear in Sri Lanka, Maldives, Bhutan, Nepal, Qatar, United Arab Emirates and Saudi Arabia.