Malta Properties Company plc - Potential Acquisition

Thursday, May 17th, 2018

On 17 May 2018, Malta Properties Company plc announced that it is entering into discussions with SmartCity (Dubai) FZLLC which, in turn, is a wholly-owned subsidiary of Dubai Holding LLC (“Dubai Holding”), for the possible acquisition by MPC of Dubai Holding’s majority shareholding in SmartCity (Malta) Limited. MPC explained that it is in the initial stage of evaluating this potential opportunity through appropriate due diligence and will adhere to all applicable legal requirements throughout the process. Any eventual agreement that may be reached between MPC and Dubai Holding would be subject to general meeting approval, various terms and conditions, satisfactory due diligence and regulatory approvals.

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