Dec 16 2010 |
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Emaar weighs new options in respect of Amlak Finance
Dubai, Dec 16th, 2010 (WAM) -- The Dubai-based Emaar Properties announced today that the restructuring of Amlak Finance is being managed by a Committee, which is currently considering a number of options in respect of Amlak Finance PJSC and the interests of all the stakeholders.
There was an option earlier considered involving the longer term loan of AED 230 million by Emaar Properties to Amlak Finance be converted into equity. However, other better and viable options have been identified, which are now being considered and discussed, said a statement issues by Emaar .The management and the Board of Emaar will ensure that interests of its shareholders and stakeholders are considered in acceptance of any option as discussed by the Committee, added the statement.
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