Abu Dhabi – Mubasher: The delisting of Union Cement’s shares from the Abu Dhabi Securities Exchange (ADX) and the change in the firm’s nature will not affect the shareholders’ rights nor the creditors’, the UAE-based cement producer stated on Monday.
The UAE's cement producer added that it will organise tenders for minority shareholders to be able to sell their shares and receive good prices.
Union Cement’s shareholders reached a preliminary agreement with Shree Cement to sell a majority stake in the Emirati company for a total consideration of AED 1.121 billion ($305.24 million).
