The General Assembly of Abu Dhabi Shipbuilding Company approved a deal with related parties of EDGE Acquisition Company.
The deal, which represents more than 5% of the company's share capital, involves the construction of eight 62-meter-long Falaj-class vessels for the State of Kuwait, for a total amount of $1.89 billion (AED 6.9 billion).
The General Assembly approved all contractual matters related to the deal and authorized the Board of Directors to take any necessary actions to implement the resolutions adopted at this meeting.
