Emaar Properties and Dubai Holding announced today that they called off merger plans, revealed few months ago.
A joint statement said that the decision was based on findings of thorough feasibility studies prepared by world renowned economists and experts under the supervision of officials from both sides.
According to the statement, the studies showed that the merger move was not “economically viable for now.” Emaar and Dubai Holding were engaged in a detailed evaluation on viability of a proposed consolidation of their activities, including assessment of different portfolios and the proposed structure for the transaction. The concerned regulatory authorities were consulted during the talks.
