Who is advising Emaar's UAE contractor purchase?
A subsidiary of Dubai Investments has been picked as the transaction's sole buy adviser
An adviser has been picked to oversee Emaar Industries and Investments' (EII) acquisition of UAE-based contractor, Leaders Fort Contracting.
EII is a subsidiary of Emaar Properties, with which Leaders Fort Contracting has worked on projects such as Burj Khalifa and Dubai Mall.
Al Mal Capital, a subsidiary of Dubai Investments, will act as the acquisition transaction's sole buy adviser.
The acquisition's transaction amount has not been revealed.
Remarking on Al Mal's role in the transaction, Naser Al Nabulsi, the firm's vice chairman and CEO, said: "Despite market headwinds, this transaction caps a strong year for Al Mal Capital's mergers and acquisitions practice, and demonstrates the attractive fundamentals and diversity that UAE's economy offers to investors."
EII said it will look to develop LFC's activities and improve the company's market share through potential partnerships on mega developments in the UAE and other parts of the GCC.