Shareholders of DP World have approved buying Economic Zones World (EZW) from its majority shareholder and also backed the port operator's delisting from the London Stock Exchange, the Dubai-based company said on Thursday.
Some 70 per cent of creditors to state-owned conglomerate Dubai World have agreed, subject to approval, to the revised terms of the debt restructuring presented at a meeting in London on Monday, sources with direct knowledge of the talks said.
Zain Saudi, a Saudi Arabian telecommunication operator, has proposed a capital reduction to shareholders to eliminate all accumulated losses up to September 30, the company said in a statement on the kingdom's bourse.
Shareholders holding 56 per cent of Egyptian snack maker Bisco Misr have agreed to sell their shares to United Arab Emirates-based Abraaj Investment Management, Bisco Misr said.
Abraaj Investment Management, an affiliate of UAE
Abu Dhabi-listed Islamic insurer National Takaful Company (Watania) has said its majority shareholders had agreed to sell stakes to strategic investors from the Gulf region, but did not name the selling or buying
Citadel Capital, a leading investment company in the Middle East and Africa region, said it has won approval from its shareholders to increase its capital to 8 billion Egyptian pound ($1.14 billion) from the present EGP4.35 billion.
Nokia shareholders approved the 5.4 billion euros ($7.4 billion) sale of the company's mobile phone business to Microsoft, deciding the deal's financial benefits outweighed any objections to the loss of a Finnish national asset.
US-based Mosaic, a top producer of phosphate and potash, will own 25 per cent of a new phosphate production joint venture in Saudi Arabia with Saudi Arabian Mining Company (Ma'aden) and Saudi Basic Industries Corporation (Sabic).
Abu Dhabi-based Insurance House (IH) recently held its first annual general meeting and announced a net profit of Dh7.54 million ($2.05 million) in 2012, exceeding the forecasted profits set for the year.
Gross Premiums Written (G
Shareholders of Abu Dhabi's Aldar Properties have approved the developer's plans to merge with rival Sorouh Real Estate at a meeting on Sunday, a spokesman for Aldar said.
The boards of both state-linked firms proposed a m