ADQ to Merge Holdings in Emirates Steel and Troubled Arkan Building Materials
Posted on 05/10/2021
Abu Dhabi Developmental Holding Company (ADQ) disclosed plans to merge Abu Dhabi-based Emirates Steel Industries PJSC with financially struggling Abu Dhabi-based Arkan Building Materials Company P.J.S.C. and form an entity with assets of roughly 13 billion dirhams. Arkan will issue a convertible instrument to ADQ-controlled Senaat, which owns Emirates Steel. Senaat is under ADQ. The […]
