# Arkan board approves acquisition of Emirates Steel from Senaat

Arkan Building Materials Company secured board approval to acquire Emirates Steel from Senaat, part of ADQ. The deal will create a listed building materials champion, with Senaat receiving convertible instruments worth approximately AED 4.1 billion.

- Type: Acquisition
- Announced: 2021-06-24
- Where: United Arab Emirates
- Status: announced
- Products: building materials, steel
- Sectors: [Steel and Metal Products](https://endata.com/sectors/steel-metal-products.md), [Construction Materials](https://endata.com/sectors/construction-materials.md)

## Companies

- [Senaat](https://endata.com/companies/29628.md) (partner)
- [Emirates Steel](https://endata.com/companies/36703.md) (target)
- [ADQ](https://endata.com/companies/50153.md) (investor)
- [Arkan Building Materials Company](https://endata.com/companies/56029.md) (acquirer)

## Sources

- [thenationalnews.com](https://www.thenationalnews.com/business/markets/arkan-s-board-approves-acquisition-of-emirates-steel-1.1247974), 2021-06-24: "The proposed transaction would create a listed national champion in the building materials and construction sectors."

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.