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FINANCIAL NEWS
Abu Dhabi- Aldar, Sorouh in advanced merger talks
10 Jan 2013
(MENAFN) Abu Dhabi’s Aldar Properties and Sorouh Real Estate stated that they are in advanced merger talks at the current time, reported Emirates 24/7.
The emirate’s top developers said that the merger would form a state-backed firm with nearly USD15 billion in combined assets.
Moreover, it may help to restore the UAE’s capital weak property market by guaranteeing better coordination of new property developments.
The two companies have a collective market capitalization of around USD2.7 billion, which would make the potential merger one of the biggest conducted by listed firms in the region.
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