Shareholders of Emaar Properties approve merger with Emaar Malls | ZAWYA MENA Edition
Emaar Properties’ shareholders have approved the merger of the company with Emaar Malls, Dubai’s largest listed developer said in a bourse filing on Monday.
Shareholders also approved during the General Assembly on Sunday the proposal to increase Emaar Properties’ share capital to 8.17 billion dirhams ($2.2 billion).
The merger, announced earlier this year, had already obtained final approval from the Securities & Commodities Authority (SCA) last September.
As part of the transaction, shareholders of Emaar Malls will receive 0.51 new Emaar Properties share for every Emaar Malls share.
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