Damac Properties says it has not received any acquisition requests - Arabianbusiness

Damac Properties says it has not received any acquisition requests - Arabianbusiness:

Dubai-based developer Damac Properties has not received any acquisition requests, amid media reports that company chairman Hussain Sajwani is considering taking the company private, the company said on Wednesday.

On Tuesday, Reuters reported that Sajwani is considering buying out minority stakeholders and taking the $1.1 billion Dubai-listed company private.

Citing anonymous sources, the report said that Sajwani has been mulling the deal since late last year, after share prices fell over the course of the last two years. He is reportedly in talks to finance the deal.

When contacted by Arabian Business, Niall McLoughlin, Damac’s senior vice president of marketing and corporate communications, said, “We would like to clarify that the company has not received to date any requests from any party that includes the intention of the acquisition.”