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Emaar plans to delist construction unit after board approves $3.3 billion buyout

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The National
“Emaar plans to delist construction unit after board approves $3.3 billion buyout”

Dubai's Emaar Properties plans to delist its construction unit from the emirate's stock exchange after its board approved a Dh12 billion ($3.3 billion) buyout plan aimed at streamlining the group's business. The company is offering Dh15 for each share it does not own in Emaar Development, Emaar Properties said in a filing on Thursday to the Dubai Financial Market . Emaar Development has four billion ordinary shares, of which Emaar Properties and its subsidiary EPHL hold more than 3.2 billion,…

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