15 Jun 2013
(MENAFN) Aldar Properties and Sorouh Real Estate surged Thursday after the Abu Dhabi developers said no objections were raised by creditors of Sorouh to a state-backed merger of the two firms set for end of June. The property firms said in a statement the merger deal would go through by June 30, pending a ministerial approval after a three-month period for Sorouh creditors to object to the proposed merger expired without any objections being raised.
Sorouh shares jumped 8.3 percent to hit a 44-month high and Aldar rallied 4.3 percent to its highest since January 2011.
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