Arabtec mandates UBS to advise potential merger with Trojan

Dubai – Mubasher: Arabtec Holding and Trojan Holding have reportedly hired Switzerland’s UBS bank and Emirati Shuaa Capital to advise a potential merger between both companies, according to Reuters.

The Swiss bank will work with Arabtec and Shuaa will work with Trojan, informed sources told the international news agency.

The success of the negotiations would be followed by the start of due diligence and a process for the merger, the sources added.

In September, the Dubai-listed Arabtec Holding announced that it was considering the possibility of combining construction business with Trojan Holding, a construction company in Abu Dhabi.

Arabtec Holding previously posted it had logged a net profit attributed to the owners of the parent company of AED 58 million during the first half of this year, 48.8% down from AED 113 million in H1-18.

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