UAE's Arabtec, Trojan review merger possibility

10/09/2019 Argaam

 

Arabtec Holding, a Dubai-listed contractor, has commenced reviewing the possibility of a merger with Abu Dhabi-based Trojan Holding, it said in a bourse filing on Tuesday.

 

“In the event an agreement is reached between the two parties following the technical, financial, and legal reviews, it is intended that a contract will be signed for this purpose detailing the terms and applicable procedure for such combination which may lead to a merger between the two companies,” the statement said.

 

The names of the advisors will be announced upon their appointment, the statement added.

 

The contractor’s second quarter 2019 net profit has declined 47.2 percent to AED 26.1 million.

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