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AD Ports Group Board Approves Merger Of Kezad Communities With Al Eskan Al Jamae

31NN

ABU DHABI PORTS COMPANY PJSC 31NN:

  • BOARD APPROVES MERGER OF ITS SUBSIDIARY KIZAD COMMUNITIES DEVELOPMENT AND SERVICES COMPANY WITH AL ESKAN AL JUMAI

  • MERGER TO CREATE A MERGED WORKERS’ RESIDENTIAL CITY OPERATOR WITHIN EMIRATE OF ABU DHABI

  • TOTAL EQUITY VALUE OF COMBINED ENTITY AMOUNTS TO AED 7.1 BILLION WITH MAJORITY OWNED BY ABU DHABI PORTS CO

  • TRANSACTION WOULD BE EFFECTED THROUGH AN EQUITY SHARE SWAP WITH NO CASH EXCHANGE

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