Business | Banking
Negotiations: Steering panel set up
A joint steering committee, chaired by Mohammad Ibrahim Al Shaibani, Chief Executive Officer of Investment Corporation of Dubai, has been formed to oversee the exploratory discussions of a possible merger and will include the chairmen of both Amlak Finance and Tamweel.
- By Babu Das Augustine, Banking Editor
- Published: 00:02 October 5, 2008
-
Amlak, Tamweel in merger talks
Dubai's Amlak, Tamweel say holding merger talks
Dubai: A joint steering committee, chaired by Mohammad Ibrahim Al Shaibani, Chief Executive Officer of Investment Corporation of Dubai, has been formed to oversee the exploratory discussions of a possible merger and will include the chairmen of both Amlak Finance and Tamweel.
Subject to successful negotiations and agreement of terms between the respective boards of directors, and applicable shareholder and regulatory approvals, the merger would be expected to close in early 2009.
Both Amlak Finance and Tamweel will call extraordinary general meetings to seek the approval of their respective shareholders for any proposed transaction.
Goldman Sachs International has been asked to act as financial adviser.
Share this article
Related Articles
More from Banking
More from Business
Popular in Business
-
XPRESS
Way to go this DSF
A fun-filled route to guide you to all the happening dos in town
Business Editor's choice
-
Shaikh Mohammad reaffirms UAE unity
Vice-President quashes talk of discord and reassures investors on the strength of Dubai's economy
-
Pizzazz on the palm: A Nikki Bisiker project
Bright, bold and ultra glam are the top notes of this apartment in The Palm Jumeirah's beautiful marina
-
flydubai starts service to Sudanese capital
Dubai's first low cost airline, celebrated its eighth inaugural flight in less than six months
