Emaar Properties PJSC’s acquisition of Dubai Creek Harbour from Dubai Holding Group and sale of Namshi approved at General Meeting

Emaar Properties PJSC’s acquisition of Dubai Creek Harbour from Dubai Holding Group and sale of Namshi approved at General Meeting

Emaar Properties PJSC (DFM: EMAAR) held a General Meeting today, where shareholders approved the acquisition of Dubai Creek Harbour from Dubai Holding LLC ("Dubai Holding") and the sale of Namshi Holding Limited ("Namshi") to Noon AD Holdings Ltd ("Noon") from Emaar Malls Management LLC ("Emaar Malls Management"), a wholly-owned subsidiary of Emaar Properties PJSC ("Emaar").

 Shareholders approved a motion to acquire assets from Dubai Holding and the issuance of a mandatory convertible bond with an aggregate value of AED 3,750,000,000 to Dubai Holding. This represents the share element of an overall consideration of AED 7.5 billion to be paid equally in cash and shares of Emaar Properties PJSC, making Dubai Holding the second largest shareholder of Emaar.