Sunday 29 August 2010

Essdar eyes distressed deals, bank books for growth | Reuters

UAE-based Essdar Capital, which recently bought the senior debt of Oman's troubled $15 billion Blue City project in a distressed deal, is betting on its local expertise to tap more such opportunities, a top executive said.

Essdar, 35-percent owned by the ruler of Dubai's investment company Dubai Holding, bought Blue City's $655.5 million Class A debt via a tender offer earlier in June as part of investment in its Gulf-focused distressed debt fund.

The investment remains the fund's largest so far."

No comments:

Post a Comment