Dubai's Emaar expects to delist malls unit by year-end : vim

Dubai's Emaar expects to delist malls unit by year-end


By Syndicated Content
Jul 6, 2021 | 2:43 AM
DUBAI (Reuters) -Dubai’s largest listed developer Emaar Properties expects to buy out minority shareholders of Emaar Malls and delist the business by year-end, a spokesperson said on Tuesday.
The all-share deal to make Emaar Malls a wholly-owned subsidiary of Emaar Properties was announced in March, less than a decade after shares in the malls unit were listed.
“We expect the entire merger process to complete before year end,” an Emaar spokesperson said in response to Reuters queries.
Emaar Properties, which already owns close to 85% of Emaar Malls, will swap 0.51 of its own shares for each remaining share of Emaar Malls, the two companies said in March.

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