"The high-profile merger of two of Abu Dhabi’s biggest publicly traded property developers was finalised as it began trading on the Abu Dhabi stock market this week, marking the first use of a new legal model for large company consolidations in the region.
Shares of the new Aldar Properties – the combined entity that absorbed the smaller Sorouh Real Estate – gained 6.4 per cent on Monday, after gaining 1.4 percent on Sunday, in its first day of trading as a merged company.
The structure of the new legal model includes the dissolution of one company and the transfer of all its assets and liabilities to a surviving company, in accordance with the Commercial Companies law, lawyers said."
'via Blog this'
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