Arabtec eyes construction company merger with Abu Dhabi's Trojan
DFM-listed Arabtec Holding has started reviewing "the possibility of combining" its construction business with Trojan Holding
Dubai Financial Market-listed (DFM) contracting giant Arabtec Holding announced that it had “commenced a review of the possibility of combining” its construction business with that of Abu Dhabi-based Trojan Holding.
In a stock market filing, Arabtec said: “In the event an agreement is reached between the two companies 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 combinations may lead to a merger between the two companies.”
The news comes just days after Arabtec said that it was looking to explore opportunities to enter into a cooperation agreement with Trojan Holding in the construction sector.
Arabtec also said that it would reveal the “names of the advisors” for the deal “upon their appointment”, adding that it would provide information about further developments, including when the agreement has been finalised or otherwise, at a later date.