Arkan Building Materials Co.

Arkan Building Materials Company PJSC (“Arkan”), a leading construction and building materials company in the UAE, announced that at a virtual General Assembly held today, shareholders overwhelmingly approved the proposal for the strategic combination of Arkan and Emirates Steel Industries PJSC (“Emirates Steel”), the Middle East’s leading integrated steel manufacturer. The transaction will create a listed national champion in the building materials and construction sector with strong potential for growth in the UAE and internationally. Emirates Steel is owned by General Holding Corporation PJSC (“Senaat”), part of ADQ. ADQ is ...