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Emaar Properties' OGM approves proposed merger with Emaar Malls

Emaar Properties' OGM approves proposed merger with Emaar Malls
The shareholders have also approved a rise in share capital
Emaar Malls
EMAARMALLS
7.88% 2.60 0.19
Emaar
EMAAR
-0.25% 8.08 -0.02

Dubai – Mubasher: The ordinary general meeting (OGM) of Emaar Properties has approved the proposed merger with Emaar Malls by issuing 0.51 new shares in Emaar for every one share in Emaar Malls, excluding those in Emaar.

Following the completion of the proposed merger, assets, rights, liabilities, and business of Emaar Malls will be restructured, according to a bourse filing on Monday.

Meanwhile, the shareholders have also approved a rise in share capital to AED 8.179 billion.

It is noteworthy to mention that in early September, Emaar Properties and Emaar Malls received the Securities and Commodities Authority’s (SCA) approval for the potential merger.