Rose Merc Limited executed a fourth amendment agreement on May 20, 2026, to extend the payment period for its 30.07% stake acquisition in Emirates Holding FZ LLC.
The amendment revises the number of tranches and manner of paying the AED 10.87 million subscription amount, with the transaction classified as an arm's length related party transaction.
Rose Merc has board control over Emirates, having appointed majority directors including Mr. Purvesh Shelatkar and Ms. Vaishali Parkar as its nominees.