IFLR1000

Al Ramz Capital AED500 million reverse takeover of Dubai Development Company (DDC)

19/11/2015
Public acquisition
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AED 500 million

$ 136.129 million

Completed

19/11/2015

Overview:

  • Al Ramz Capital has enacted a reverse takeover of Dubai Development Company (DDC).
  • The deal will see Al Ramz acquire 82.4% of DDC, the shareholders of Al Ramz will then undertake a share swap with shares of DDC issued via a capital increase.
  • This is the first time a reverse takeover has been undertaken in the UAE.

Sam Duke - Editor

Jurisdiction:

United Arab Emirates

Deal type:

Public acquisition

Practice area:

M&A

Industry sector:

Construction and materials

Firm:
Al Tamimi & Company

Party: Al Ramz Capital (Acquirer)

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