The United Real Estate Company announced Sunday that Kuwait’s Capital Markets Authority (CMA) approved its merger with Diyafa Group and Abraj United Co.

The cash-free merger deal set the ratio of share value of the United Real Estate Co. at 0.64 percent of an Abraj share and 0.58 percent of a Diyafa share.

Shareholders of the three companies are expected to convene extraordinary general assembly meetings to endorse the merger after finalizing the remaining procedures, according to the press release from the United Real Estate Co

Source: Kuwait News Agency