Dec 16 2010 |
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Emaar Statement on Amlak Finance
The restructuring of Amlak Finance is being managed by a Committee, which iscurrently 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.
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.
-Ends-
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