Emaar offers Dh15 a share for 100 per cent control of Emaar Development
Dubai property developer Emaar Properties intends to make a voluntary cash offer to acquire up to 100 per cent of the shares in its listed unit Emaar Development that it does not already own. The biggest listed developer in the emirate is offering Dh15 ($4.08) per share to investors to take full control of its subsidiary. The proposed offer is subject to approval from Emaar Properties’ board, the…
Dubai's leading property developer, Emaar Properties, is set to make a cash offer of Dh15 per share to acquire full control of its subsidiary, Emaar Development. The proposed offer, which covers shares not already owned, could cost the company up to Dh12.6 billion. Currently, Emaar Properties holds 79% of Emaar Development, with plans to increase its stake. The transaction comes amid economic challenges in Dubai due to the ongoing Iran war.
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- Emaar offers Dh15 a share for 100 per cent control of Emaar Development thenationalnews.com
