Dubai’s Emaar Properties intends to offer AED 15 in cash for each Emaar Development share outside the group’s existing holdings. It disclosed the plan to the Dubai Financial Market on November 4.
The company would seek up to all shares not already owned by Emaar Properties or Emirates Property Holdings Limited, its wholly owned indirect subsidiary. The proposal concerns the outstanding minority stake, not a purchase of the entire business from existing owners.
For minority shareholders, AED 15 is the price cited for a possible offer, not cash already due. Emaar said the offer requires approval from its board of directors. The disclosure did not announce a completed buyout.