{"id":90283,"date":"2024-03-21T00:00:00","date_gmt":"2024-03-21T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/uae\/kuwaits-al-mazaya-first-dubai-complete-merger\/"},"modified":"2024-03-21T00:00:00","modified_gmt":"2024-03-21T00:00:00","slug":"kuwaits-al-mazaya-first-dubai-complete-merger","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/uae\/2024\/03\/21\/kuwaits-al-mazaya-first-dubai-complete-merger\/","title":{"rendered":"Kuwait\u2019s Al Mazaya, First Dubai complete merger"},"content":{"rendered":"

DFM-listed Kuwaiti firm <\/strong>Al Mazaya Holding<\/a><\/strong> has completed its merger with its <\/strong>partially-owned real estate subsidiary First Dubai<\/strong>, according to a DFM disclosure (pdf)<\/a>. Al Mazaya issued and allocated 40.8 mn new shares \u2013 priced at 100 fils per share \u2013 to shareholders in First Dubai as part of the merger.<\/p>\n

Background:<\/strong> The Kuwaiti firm received regulatory approval from Kuwait\u2019s Capital Market Authority to formally merge with First Dubai at the start of March<\/a>. The authority had already approved the merger in 2023<\/a>. Mazaya Holding has been seeking to fully acquire First Dubai since 2009<\/a>.<\/p>\n

Good news for Al Mazaya: <\/strong>The merger will result in an 8% increase in capital for Al Mazaya to KD 52.6 mn, distributed over some 525.6 mn shares. <\/p>\n

About First Dubai: <\/strong>The real estate firm was established for the purpose of developing real estate in Kuwait and the UAE, according to its website<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"

The merger will bring Al Mazaya\u2019s capital to KD 52.6 mn<\/p>\n","protected":false},"author":1,"featured_media":90284,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[2392],"tags":[1068,7,1069,527,60],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-90283","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ma-watch-2","tag-al-mazaya","tag-enterpriseam-uae","tag-first-dubai","tag-kuwait","tag-ma-watch","wpautop","entry"],"acf":{"mongo_id":"43d9679b-e5ab-459a-b6e4-1ce2a4f2ccb6","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/3\/1918.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Kuwait\u2019s Al Mazaya, First Dubai complete merger","related_issue":[90266],"teaser":"The merger will bring Al Mazaya\u2019s capital to KD 52.6 mn","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/3\/.49a6e57e-2f3a-4374-b7c5-e0c34ee4381b.mp3"},"yoast_head":"\nKuwait\u2019s Al Mazaya, First Dubai complete merger - UAE<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/uae\/2024\/03\/21\/kuwaits-al-mazaya-first-dubai-complete-merger\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Kuwait\u2019s Al Mazaya, First Dubai complete merger\" \/>\n<meta property=\"og:description\" content=\"The merger will bring Al Mazaya\u2019s capital to KD 52.6 mn\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/uae\/2024\/03\/21\/kuwaits-al-mazaya-first-dubai-complete-merger\/\" \/>\n<meta property=\"og:site_name\" content=\"UAE\" \/>\n<meta property=\"article:published_time\" content=\"2024-03-21T00:00:00+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/1918.jpg?fit=%2C&ssl=1\" \/>\n<meta name=\"author\" content=\"enterpriseam admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"enterpriseam admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/uae\/2024\/03\/21\/kuwaits-al-mazaya-first-dubai-complete-merger\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/uae\/2024\/03\/21\/kuwaits-al-mazaya-first-dubai-complete-merger\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/uae\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"Kuwait\u2019s Al Mazaya, First Dubai complete merger\",\"datePublished\":\"2024-03-21T00:00:00+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/uae\/2024\/03\/21\/kuwaits-al-mazaya-first-dubai-complete-merger\/\"},\"wordCount\":148,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/uae\/#organization\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/uae\/2024\/03\/21\/kuwaits-al-mazaya-first-dubai-complete-merger\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/1918.jpg?fit=%2C&ssl=1\",\"keywords\":[\"Al Mazaya\",\"EnterpriseAM UAE\",\"First Dubai\",\"Kuwait\",\"M&A WATCH\"],\"articleSection\":[\"M&A WATCH\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/uae\/2024\/03\/21\/kuwaits-al-mazaya-first-dubai-complete-merger\/\",\"url\":\"https:\/\/enterpriseam.com\/uae\/2024\/03\/21\/kuwaits-al-mazaya-first-dubai-complete-merger\/\",\"name\":\"Kuwait\u2019s Al Mazaya, First Dubai complete merger - 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