Tuesday 29 September 2009

Turnaround firm is in talks with Dubai entities

Alvarez and Marsal, the turnaround specialist overseeing the bankruptcy of Lehman Brothers, is negotiating with several Dubai-owned entities about mandates for organisational restructuring.

The firm is also in advanced talks with one major government-related investment company, said Antonio M Alvarez, the firm’s managing director. “We have had various discussions in the past six months and government-related entities are among them.”

Many Dubai Government-owned companies with large debt are merging operations in response to the global economic slowdown.

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1 comment:

  1. Ann JulieTuesday, September 29, 2009 2:00:00 pm

    Merging is only a temporary solution not a permanent one. The system needs a complete overhaul to tackle current and future financial crisis.

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