Legal DealFolio - Sorouh Real Estate PJSC merger with Aldar Properties PJSC

Clifford Chance has advised Sorouh Real Estate PJSC on its successful merger with Aldar Properties PJSC, terms of which were agreed by their respective boards in January 2013 and approved by their respective shareholders in March 2013. The merger was recently approved by the Abu Dhabi Executive Council and was declared effective by the Ministry of Economy upon close of trading on 27 June 2013. The merger has created the largest listed real estate developer in Abu Dhabi and the second largest real estate developer in the UAE, with combined total assets of approximately AED46 billion. It is anticipated that the merger will create a stronger company, with a more diversified and balanced asset portfolio, and that the Government of Abu Dhabi will be a key customer as it continues to deliver strategic assets and various projects for the Government as part of the Abu Dhabi Vision 2030 programme. The Clifford Chance team was led by M&A partner Mohammed Al-Shukairy, with assistance from M&A associate Sian Rowlands and real estate counsel Steven Henderson.

Deal Date:	30-06-2013	Practice Area:	Corporate and M&A
Deal Title:	Sorouh Real Estate PJSC merger with Aldar Properties PJSC	Industry:	Real Estate Investment & Services
Description:	Clifford Chance has advised Sorouh Real Estate PJSC on its successful merger with Aldar Properties PJSC, terms of which were agreed by their respective boards in January 2013 and approved by their respective shareholders in March 2013. The merger was recently approved by the Abu Dhabi Executive Council and was declared effective by the Ministry of Economy upon close of trading on 27 June 2013. The merger has created the largest listed real estate developer in Abu Dhabi and the second largest real estate developer in the UAE, with combined total assets of approximately AED46 billion. It is anticipated that the merger will create a stronger company, with a more diversified and balanced asset portfolio, and that the Government of Abu Dhabi will be a key customer as it continues to deliver strategic assets and various projects for the Government as part of the Abu Dhabi Vision 2030 programme. The Clifford Chance team was led by M&A partner Mohammed Al-Shukairy, with assistance from M&A associate Sian Rowlands and real estate counsel Steven Henderson.
Financial Center:	Dubai	Value:	0.00-0.00
Advised Party:	Merger Party	Law Firm	Clifford Chance
Merger Party Jurisdiction	UAE	Merger Party Jurisdiction	UAE
Classification:	Mergers	Lawyer	Mo Al-Shukairy

Practice Areas -

Corporate and M&A Law Firms and Lawyers

Practice Areas - Corporate and M&A Law Firms and Lawyers