Abu Dhabi – Mubasher: Eshraq Properties has given up a plan to acquire Reem Investments following the failure of bilateral talks.

Both UAE-based companies stated in August 2017 that they were negotiating a potential merger.

“The strategic investment of Reem Investments in Eshraq Properties will not be completed,” Eshraq Properties said in a bourse statement.

Companies did not reveal further details.

“Further to discussions and deliberations, the parties have not been able to agree on major commercial matters underpinning the deal,” Arabian Business reported.