|15 October, 2019

UAE's Arabtec talks with UBS to advise on potential Trojan merger deal

In September, the Dubai listed contractor said that it has commenced with Abu Dhabi-based construction group Trojan Holding a review of the possibility of combining their construction businesses

Image used for illustrative purpose. An Arabtec logo is seen on buildings under construction in the Marina area of Dubai in this picture taken November 28, 2009.

Image used for illustrative purpose. An Arabtec logo is seen on buildings under construction in the Marina area of Dubai in this picture taken November 28, 2009.

REUTERS/Steve Crisp

UAE’s Arabtec Holding is in negotiations with UBS to appoint the bank as financial advisor to assist the preliminary review and evaluation of a potential business combination with Trojan Holding.

In September, the Dubai listed contractor said that it has started reviewing the possibility of combining its construction businesses with Abu Dhabi-based construction group Trojan Holding, which could lead to a merger between the two companies.

Arabtec posted a 47.26 percent drop in profit in the second quarter of 2019 as costs and expenses increased.

(Writing by Gerard Aoun, Editing by Seban Scaria)

(gerard.aoun@thomsonreuters.com)

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© ZAWYA 2019

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