UAE'S Arabtec says merger with Aabar still on track

* username: rupertbu

Dubai contractor Arabtec's ARTC.DU proposed merger with Aabar Investments AABAR.AD is still on track with a possible deal closure in March and the firm expects to post better profits in the fourth-quarter, its CFO said on Sunday.

Aabar had agreed to acquire a 70 percent stake in Arabtec last month in a deal valued at about $1.7 billion. [ID:nLDE60717W]

Shares of Arabtec, the United Arab Emirates' largest contractor by market value, have been pressured recently by sustained speculation that the deal may not go through.