Wednesday 5 December 2012

BRIEF-Kuwait's Global Investment House in formal restructuring deal | Reuters

Global Investment House KSCC :
* Global signs formal restructuring agreement with creditors
* Global says to split core fee business from non-core principal investments, transfer debt obligations
* Global says existing shareholders to own 30 percent of firm, remaining 70 percent to be owned by creditors special purpose vehicle
* Global's business after deal includes asset management, investment banking and brokerage operations

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