Selling, Buying or Merging a Qatari SME: How QDB's M&A Program and Portal Work

Most Qatari business owners plan carefully for launch and growth, and very little for the day they sell, merge or bring in a strategic buyer. That gap matters. A study by the IFC and the US-Qatar Business Council Doha counted only a handful of startup exits in Qatar between 2020 and 2024, and without exits, capital and experience do not flow back into new ventures. In April 2025 Qatar Development Bank (QDB) announced its Mergers and Acquisitions Program, a structured route for SMEs, private enterprises and Qatari factories that want to sell, merge or acquire. Here is how it works, and how to use it well.

What the programme is, and who it is for

QDB describes the programme as covering both mergers (two or more companies combining) and acquisitions (one company buying all or part of another). Its stated purpose is to support growth, open new opportunities, enable strategic partnerships or deliver "structured exits" for SMEs, private enterprises and Qatari factories at different stages of their business lifecycle. At launch, QDB CEO Abdulrahman bin Hesham Al-Sowaidi said the programme "aims to diversify funding sources and attract both individual and corporate investors."

It has two parts that work together:

• An advisory track that takes a seller from valuation to signed deal, supported by investment advisory firms.
• A free online marketplace, the QDB M&A portal, where businesses for sale are listed and buyers can search by investment range, location and industry.

The three-phase journey for sellers

QDB's programme page sets out three phases, each building on the one before:

• Phase I – Initial company evaluation. Agree objectives, a project plan and a timeline; collect and analyse company data; value the business; and prepare an investor presentation, a short transaction teaser and a list of potential buyers.
• Phase II – Listing on the M&A portal. The business is listed, approved potential buyers are contacted, and counteroffers can be submitted on the seller's behalf.
• Phase III – Negotiation and completion. Support with financial, operational, tax and legal due diligence, buyer negotiations and deal structuring, evaluation of binding offers, and negotiation of the sale and purchase agreement (SPA).

Payments are tied to the phases, and either party can end the engagement if deliverables are not agreed. Sellers start by creating an account on the portal and submitting an advisory request; investors create an account, search and compare company profiles, and contact owners, as QNA reported at launch.

The M&A grant: help with advisory costs

Professional advice is often what stops a small company from running a proper sale process. At launch, QDB said its M&A Minha grant would cover up to 70% of advisory service costs. QDB's current programme page does not restate the percentage, so confirm the level with QDB before you budget around it. The page's FAQ also sets out the key rules:

• It is open to Qatari companies, and only the selling shareholder or selling-side company is eligible, so it supports sell-side advice.
• It is limited to one grant per commercial registration (CR).
• You need a valid ID, a valid CR, audited financial statements for the past year and a company profile.

QDB's financing pages list it as the "M&A Sell-side Advisory Grant", so you may see both names.

How the portal handles listings, confidentiality and buyers

The portal FAQ answers the practical questions most owners ask first:

• Who can list: any firm with an active commercial registration from the Ministry of Commerce and Industry (MOCI).
• Confidentiality: only non-confidential information is shown publicly. Detailed seller information is shared with potential buyers and advisors only after they sign a non-disclosure agreement. Interested buyers use a "contact seller" button to ask for more.
• Who can buy: both local and international buyers. International buyers must comply with Qatar's foreign investment law, which may require MOCI licences and other approvals.
• Cost: the portal is free to use. Advisory fees are agreed directly between the client and the advisory firm; the portal lists participating advisors.
• Financing for buyers: the FAQ says QDB offers an acquisition financing product for buying existing local companies. QDB has not published separate terms for it, so speak to QDB directly.
• Due diligence: QDB does not guarantee the performance of listed businesses. Buyers remain responsible for their own checks.

QDB has not published listing or deal numbers for the programme, so treat it as a young marketplace: useful for reach and structure, but not a substitute for your own buyer outreach.

Getting ready to sell: general best practice

The following is general guidance from international sources, not a QDB requirement. The common thread is to prepare long before you need to.

• Plan early. Writing in Harvard Business Review, K Srikrishna advises owners to "plan for a sale ahead of time – even if you're not sure you want to," and to work on the business rather than in it, so that it can run without them.
• Find your own problems first. PwC recommends preparing a detailed report on the company's financial position before a sale (vendor due diligence), so issues surface before a buyer finds them.
• Know what matters in negotiation. In another HBR piece, investor David Jegen notes that "most points are not deal breakers," and that founders often spend two to three years working with the acquirer after a sale. Decide early what role you want after closing.

In Qatar, this preparation also means clean, audited accounts, an up-to-date CR, clear ownership records and documented contracts with key customers and suppliers. These are the items any buyer's due diligence will test first.

Why it matters for Qatar National Vision 2030 and NDS3

The Third National Development Strategy (2024–2030) sets the goal of enabling the private sector to lead and drive economic growth. A working market for buying and selling private companies supports that goal in three ways. Owners get a credible exit, which makes founding and investing more attractive. Strong firms can grow by acquisition instead of building everything from scratch. And capital released by exits can be reinvested in new ventures. A national, NDA-gated marketplace backed by QDB is a practical step toward the deal flow a knowledge-based economy needs.

What to do next

• Owners considering a sale or merger: get your last year's audited statements and CR in order, then submit an advisory request on the M&A portal and ask QDB to confirm the current grant level.
• Founders not yet selling: run a quick "sale readiness" check now. Could the business run for a month without you? Would your numbers survive due diligence?
• Buyers and investors: create a portal account, set search filters for your target sectors, and ask QDB about acquisition financing before you make an offer.
• Everyone: take independent legal, tax and financial advice before you sign anything binding. QDB's call centre is on (+974) 4430 0000.

Sources

• QDB Unveils Mergers and Acquisitions Program to Promote Competitiveness and Growth – Qatar Development Bank – qdb.qa
• The Mergers and Acquisitions (M&A) Program – Qatar Development Bank – qdb.qa
• Direct Financing – Qatar Development Bank – qdb.qa
• M&A Portal FAQ – Qatar Development Bank – mna.qdb.qa
• M&A Portal Advisors – Qatar Development Bank – mna.qdb.qa
• QDB launches mergers and acquisitions program – Qatar News Agency – qna.org.qa
• QDB unveils Mergers and Acquisitions Program – Zawya – zawya.com
• Qatar launches Third National Development Strategy 2024-2030 – Gulf Times – gulf-times.com
• Qatar startup sector enters new phase of growth, says study – Gulf Times – gulf-times.com
• How to Make Selling Your Business a Fulfilling Experience – Harvard Business Review – hbr.org
• What Founders Need to Know Before Selling Their Startup – Harvard Business Review – hbr.org
• Achieve a successful business sale with the right preparation – PwC Switzerland – pwc.ch

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