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BRIEF-Emaar Properties approves $1.5 bln murabaha facilities from First Abu Dhabi Bank
September 20, 2017 / 11:30 AM / 3 months ago

BRIEF-Emaar Properties approves $1.5 bln murabaha facilities from First Abu Dhabi Bank

Sept 20 (Reuters) - EMAAR PROPERTIES:

* BOARD APPROVES EMAAR DEVELOPMENT‘S ENTRY INTO MURABAHA FINANCING FACILITIES WITH FIRST ABU DHABI BANK FOR UP TO $1.5 BILLION

* SAYS CO TO PROVIDE TEMPORARY CORPORATE GUARANTEE FOR $1.5 BILLION FACILITIES UNTIL TRANSFER OF ASSETS TO EMAAR DEVELOPMENT LLC

* SEEKS SHAREHOLDERS RESOLUTION TO TRANSFER CERTAIN ASSETS OF REAL ESTATE DEVELOPMENT BUSINESS OF CO TO EMAAR DEVELOPMENT LLC

* SEEKS SHAREHOLDERS RESOLUTION TO CONVERT EMAAR DEVELOPMENT INTO PUBLIC JOINT STOCK CO, TO OFFER UP TO 30 PERCENT OF ITS SHARES TO PUBLIC Source text for Eikon: Further company coverage: )

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