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What? I'm Shocked! In this one-industry town...

What? I'm Shocked! In this one-industry town...

Old Jun 28th 2009, 8:22 am
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Default What? I'm Shocked! In this one-industry town...

Emaar's annoucing a merger with Dubai Holdings and its assorted subsidiaries, and no one's yet posted a thread about it?

What does it mean? More layoffs, probably. Or is there anyone left to fire at these companies?
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Old Jun 28th 2009, 9:13 am
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Default Re: What? I'm Shocked! In this one-industry town...

Originally Posted by Ethos83 View Post
Emaar's annoucing a merger with Dubai Holdings and its assorted subsidiaries, and no one's yet posted a thread about it?

What does it mean? More layoffs, probably. Or is there anyone left to fire at these companies?
That won't be a 'merger' in the normal sense of the word.

Dubai Holding is just a shell company, a sort of umbrella arrangement that brings together a variety of companies under government ownership. Each retains some degree of management autonomy.

Emaar will presumably just slot in, making 8 entities not 7. Mind you, a more formal merger with Dubai Properties would seem logical.
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Old Jun 28th 2009, 9:22 am
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Default Re: What? I'm Shocked! In this one-industry town...

Originally Posted by Ethos83 View Post
Emaar's annoucing a merger with Dubai Holdings and its assorted subsidiaries, and no one's yet posted a thread about it?

What does it mean? More layoffs, probably. Or is there anyone left to fire at these companies?
they haven't announced it yet, discussions under way apparently.
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Old Jun 28th 2009, 9:42 am
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Default Re: What? I'm Shocked! In this one-industry town...

Originally Posted by Blue Cat View Post
they haven't announced it yet, discussions under way apparently.
According to todays paper it will take upto 4 months, so maybe next year?
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Old Jun 29th 2009, 10:39 am
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Default Re: What? I'm Shocked! In this one-industry town...

Originally Posted by The Dean View Post

Emaar will presumably just slot in, making 8 entities not 7. Mind you, a more formal merger with Dubai Properties would seem logical.

am no expert but i cant see it being this easy - and if anything it will be the other way around (DH entities coming under the Emaar banner ) - Emaar is a listed company on the DFX whilst DH entities are state owned...

Last edited by Foxes; Jun 29th 2009 at 10:39 am. Reason: sp
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Old Jun 29th 2009, 11:09 am
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Default Re: What? I'm Shocked! In this one-industry town...

Where does that leave Nakheel
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Old Jun 29th 2009, 1:09 pm
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Default Re: What? I'm Shocked! In this one-industry town...

Originally Posted by Desert Rat View Post
Where does that leave Nakheel
From what I have been told (by someone I know who works there) another massive round of redundancies is to be announced very shortly....

They are of course keeping all Emiratis there, so all lay offs will be Westerners
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Old Jun 29th 2009, 1:40 pm
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Default Re: What? I'm Shocked! In this one-industry town...

There goes the company.....

Originally Posted by sg800 View Post

They are of course keeping all Emiratis there, so all lay offs will be Westerners
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Old Jun 29th 2009, 9:18 pm
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Default Re: What? I'm Shocked! In this one-industry town...

Intersting one

As foxes says. Emaar private. DH state owned

Emaar still ok (ish) DH and all subsiduries vertually closed down so can actually see state off loading liabilities to private entity
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Old Jun 30th 2009, 1:49 am
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Default Re: What? I'm Shocked! In this one-industry town...

Emaar bought Hamptons International in the UK just before the house price crash. Hamptons is struggling and downsizing.
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