Tuesday 17 March 2009

Investment Dar may sell assets to meet obligations

Kuwaiti Islamic firm Investment Dar said on Monday it may sell some assets to meet its obligations as its seeks to restructure its debt.

The company said in a statement it has presented foreign and local banks and investors a plan under which it "identifies non-core assets in the current portfolio for potential disposal".

The firm, which holds stakes in such companies as carmaker Aston Martin and Boubyan Bank, said it hopes its investors and creditors "would agree to a restructuring of the existing financial commitments under a new sharia-compliant capital structure".

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