Afridi & Angell Advise Dubai Aluminium in a Merger Deal
July, 2013 - Dubai, United Arab Emirates
Mr. Bashir Ahmed, a partner of Afridi & Angell, led the team which advised Dubai Aluminum (Dubal) with respect to its recently announced merger with Abu Dhabi based Emirates Aluminum (Emal) to form Emirates Global Aluminium, the 5th largest global aluminium company. The new company has an aggregate enterprise value of more than USD 15 Billion and expects to start operations in the first half of 2014.
Emirates Global Aluminum is a jointly held company with equal ownership. The agreement will consolidate the businesses of Dubal and Emal.
The new company will be managed by Abdullah Jassem Bin Kalban, President and CEO of Dubal, who will be Managing Director and CEO. Saeed Fadhel Al Mazrouei, president and CEO of Emal will be CEO of the UAE Operations. Both executives are veterans in the aluminum industry.
Abu Dhabi: His Highness Shaikh Mohammad Bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai, and General Shaikh Mohammad bin Zayed Al Nahyan, the Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces and Chairman of the Executive Council witnessed the signing of a merger agreement to form Emirates Global Aluminium.
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