Tamweel And Amlak To Merge

October 2008 | Top Stories

Dubai-based mortgage lenders Amlak Finance and Tamweel said on October 4 that they have entered into preliminary merger talks. Although the two companies have denied the merger has anything to do with funding difficulties, shares in both firms fell on the first day of trading following the Eid holiday with Tamweel down 7.37% to AED3.52 (US$0.96) and Amlak losing 3.94% to AED3.17 (US$0.86). The proposed merger, if negotiations are successful and it receives the necessary regulatory approvals, would close in early 2009 and create a combined company with a balance sheet worth in excess of AED27bn (US$7.35bn). The firms have

If you would like to subscribe to Corporate Financing Week and gain instant access to this article, please click here to subscribe.

If you would like to take a trial to Corporate Financing Week please click on the trial link below.