Shareholders approve Aldar-Sorouh merger

Shareholders of Abu Dhabi's Aldar Properties have approved the developer's plans to merge with rival Sorouh Real Estate at a meeting on Sunday, a spokesman for Aldar said.

The boards of both state-linked firms proposed a merger in January to create a business with assets worth $13 billion. The deal was expected to be completed by end-June.

"All resolutions have been approved by shareholders," a spokesman said.

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