Introduction 1- Dubai Holding Group becomes the largest shareholder in Emaar Properties

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May 11 (Reuters) - Emaar Properties said on Monday that Investment Corporation of Dubai, the government's main investment arm, had transferred its entire stake in the real estate developer to Emirates Power Investment, a subsidiary of Dubai Holding, the investment conglomerate owned by the emirate's ruler.

The company stated in a disclosure to the Dubai Financial Market that, following this transaction, Emirates Power Investment now owns 22.27 percent of Emaar's total issued shares.

Emaar explained that Dubai Holding's total stake in the real estate development company has risen to 29.73 percent, making it the largest shareholder in the company.

The company did not disclose the financial value of the deal.


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