RESTAURANTS

Aline Kamakian, co-founder of Fig Holding, the company that owns and runs Mayrig and Batchig, has bought out fellow co-founder Serge Maacaron to become the 100 percent stakeholder of the company. “I purchased Serge’s 50 percent stake of Fig Holding for USD 1.8 million through a three-year extension of a subsidized bank loan,” Kamakian explained. Following the deal, Kamakian terminated the franchise agreement with Mayrig Dubai, due to the alcohol license issue, and is now looking to relocate. Mayrig is still welcoming customers at its Riyadh branch and Kamakian is now exploring the possibility of expanding Batchig in the city and also in Lebanon. “My immediate focus is on developing Fig Holding from a family business into a cooperation,” Kamakian said. She added that the firm is currently restructuring and finalizing its strategy, which is focused on the franchising and development of its concepts. “A new concept will be launched soon,” she said.