Dubai – Mubasher: Emaar Properties forecasts to acquire a minority shareholding of Emaar Malls and delist the company by the end of 2021, the Emaar spokesperson told Reuters.

The all-share deal to make Emaar Malls a wholly-owned subsidiary of Emaar Properties, which already owns about 85% of the company, was announced in March 2021.

The spokesperson referred that the UAE Securities and Commodities Authority (SCA) is reviewing the proposal as part of the normal process.

"We expect the entire merger process to complete before year-end," the spokesperson remarked. 

It is noteworthy to mention that in March, Emaar Properties and Emaar Malls jointly announced that each of their boards of directors has voted to recommend an all-share merger to their respective shareholders.