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UAE's Arabtec & Trojan Review Possibility of Combining Construction Businesses

Infra News - Published on Fri, 13 Sep 2019

Image Source: zawya
Dubai-listed contractor Arabtec Holding said that it has commenced with Trojan Holding a review of the possibility of combining their construction businesses, which could lead to a merger between the two companies. In the event an agreement is reached between the two companies following the technical, financial and legal reviews, it is intended that a contract will be signed for this purpose detailing the terms and applicable procedure for such combination which may lead to a merger between the two companies.

Arabtec said that it has appointed Wail Farsakh as its new Group Chief Operating Officer. For the Q2 2019, the construction giant posted a 47.26 percent drop in profit.

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Posted By : Ratan Singh on Fri, 13 Sep 2019
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