Construction
Arabtec Surges Amid Talks to Combine With Abu Dhabi’s Trojan
(Bloomberg) — Arabtec Holding shares soared in Dubai after the company started talks to merge with Abu Dhabi-based Trojan Holding.
The stock advanced as much as 13%, the steepest intraday gain since July 2017, as Arabtec said the entities began a study to potentially combine their construction businesses and may merge after technical, financial and legal reviews. It didn’t provide further details.
The talks come as a property-market slowdown weighs on companies in the United Arab Emirates. Property prices in the UAE, the second-biggest Arab economy, have dropped about 27% since October 2014 amid excess supply and sluggish economic growth.
S&P Global Ratings expects prices in Dubai, the Middle East’s business hub, to fall by another 5% to 10% this year.
Arabtec’s first-half profit plunged 49% as contracts dried up. The company, controlled by Abu Dhabi’s Aabar Investments PJS, said last year it’s working with Moelis & Co. on restructuring debt.
Arabtec shares were up 11% at 12:51 p.m. local time, trimming their year-to-date decline to 6.8%. The stock has underperformed Dubai’s benchmark index, which is up 14% in 2019.
–With assistance from Filipe Pacheco.
-
Alamaliktistaad Magazines2 months agoAlam Al Iktisaad – September 2025 Edition
-
Magazines2 months agoOER – September 2025 Issue
-
News2 months agoKitchenomiKs Secures Investment of US$3.2M Led by Jasoor Ventures
-
News2 months agoCent Capital, AI Finance App by ex-AWS Strategist ‘The Beast of Bay Area,’ Launches to End Financial Anxiety, Hits $1M AUM
-
News2 months agoOman Inaugurates ‘Hadatha’ – Its All-New Cybersecurity Center
-
Banking & Finance2 months agoOman Arab Bank Highlights Its Ongoing Strategic Initiatives and Future Plans
-
News2 months agoIEA Expects Global Oil Market to Remain Oversupplied in 2026
-
Energy2 months agoWLGA Middle East LPG Summit & Expo 2025 to be held at OCEC on November 10 and 11

You must be logged in to post a comment Login