Emaar Properties PJSC is considering a plan to take over its listed construction Arm, Emaar Development PJSC, in a potential multibillion-dollar transaction, according to people familiar with the matter.
The Dubai-based company owns just over 79% of Emaar Development. Some of the people said Emaar Properties could announce plans for a deal within the next few days, but declined to be identified because the information is confidential.
Emaar Development is valued at more than $15 billion at current share prices. A full takeover could cost Emaar Properties as much as $3.2 billion.
Sources: Bloomberg Markets.