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UAE developers Aldar, Sorouh eye state-backed merger

Posted on 12 March 2012

Abu Dhabi’s struggling developer Aldar Properties may merge with local rival Sorouh Real Estate in a state-backed tie-up that could create a company worth some $15 billion in assets.
A decision on the merger of the top two developers in the emirate will be made within three months after a joint committee assesses the matter, the companies said in a joint statement on the Abu Dhabi bourse, adding the talks had “the blessing of the Abu Dhabi government”………………………………………..Full Article: Source


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