Mubasher: Eshraq Properties and Reem Investments confirmed that discussions are at an advanced stage over a potential strategic investment in the former company in return for the acquisition of Reem’s entire business and assets, according to a statement.
This transaction will create the second-largest listed real estate developer in Abu Dhabi.
The deal is expected to be beneficial to the shareholders of both companies.
The transaction remains subject to a number of conditions, including the final agreement of deal terms and price, as well as obtaining the required regulatory approvals.
