The shareholders of Emirates Bank International (EBI) have approved the merger of the bank with National Bank of Dubai (NBD).

Resolutions put forward in relation to the proposed merger, to be effected through the offer by Emirates NBD PJSC to acquire the share capital of EBI and NBD, were passed at the extraordinary general meeting (EGM) held today (September 5).

The EGM was attended by shareholders representing 91.24 per cent of EBI’s total outstanding share capital, exceeding the 75 per cent quorum required to approve the merger, the bank said.

Resolutions relating to the merger were unanimously approved at the EGM, it said.

NBD shareholders will vote on the merger at their EGM tomorrow.

The Offer being made by Emirates NBD PJSC, in accordance with the terms contained in the offer document remains open until 3 pm (Dubai time) on September 17. Shareholders that have not tendered their shares have until this time to do so, a statement said.

EBI and NBD shareholders who have not yet tendered their shares, and wish to do so, should complete the form of acceptance in accordance with the process set out in the offer document distributed to shareholders in July, it said. – TradeArabia News Service