Announced
Completed
Financials
Tags
Domestic
United Arab Emirates
shopping mall development
Acquisition
Public
Majority
Single Bidder
Merger
Real Estate Holding and Development
Friendly
Completed
Synopsis
Emaar Properties, an Emirati multinational real estate development company, agreed to merge with Emaar Malls, a developer of premium shopping mall and retail assets. Emaar Malls shareholders (excluding Emaar Properties) will receive 0.51 Emaar Properties shares for every one Emaar Malls share, representing a remium of 7.1% to the closing price of Emaar Malls on March 1, 2021. On September 6, 2021, Securities & Commodities Authority issued its final approval pertaining to the proposed merger of the two companies.
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