DAMAC founder gets regulatory approval to go private | Reuters
The founder of DAMAC Properties (DAMAC.DU) is relaunching a partial offer to take the firm private after the securities regulator of the United Arab Emirates granted approval, according to a statement on Thursday.
Maple Invest Co Limited, the vehicle backed by DAMAC founder Hussain Sajwani, said in a statement disclosed in a DAMAC exchange filing that an update to the original $595 million offer made in June is expected within two weeks.
The updated offer "will only address process points and not affect the material parameters of the offer, including the offer price which remains at AED 1.30 ($0.354) per share," Maple Invest said.
In June, Sajwani said efforts to take the real estate development firm private were being postponed after the Securities and Commodities Authority (SCA) launched a review of the transaction. read more
No comments:
Post a Comment