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Emaar may have to raise funds after merger, says analyst
- United Arab Emirates: Wednesday, July 01 - 2009 at 11:22
Emaar Properties, which had announced a plan to combine with part of Dubai Holding last week, may have to raise funds if it proceeds with the transaction, according to Nomura Holdings. 'Emaar may have to raise equity, and possibly a lot, to support its private development counterparts because of their combined debt,' Chet Riley, a Dubai-based analyst at Nomura, wrote in a note to clients.
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