Emaar, Dubai Holding abandon merger plans

DUBAI – The Board of Directors of Emaar Properties has decided to call off plans for merger with Dubai Holding, announced few months ago.

By (Wam)

Published: Thu 10 Dec 2009, 12:22 AM

Last updated: Thu 2 Apr 2015, 3:47 AM

According to the Board, the decision was based on findings of thorough feasibility studies prepared by world renowned economists and experts under the supervision of officials from both sides.

The Board said studies showed that the merger move was not economically viable for now.

Emaar and Dubai Holding were engaged in a detailed evaluation on viability of a proposed consolidation of their activities, including assessment of different portfolios and the proposed structure for the transaction. The concerned regulatory authorities were consulted during the talks.

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