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Monday, 15 May 2017

Dubai's Gulf General Investment aims to complete debt restructuring by June | Reuters

Dubai's Gulf General Investment aims to complete debt restructuring by June | Reuters:

"Dubai-listed conglomerate Gulf General Investment Co(GGICO) said on Monday it expected to complete a restructuring of around 2.36 billion dirhams ($643 million) in loans by next month.

The firm, which has investments spanning financial services, property, hospitality, manufacturing and retailing, previously renegotiated 2.8 billion dirhams in financial commitments in 2012.

But the subdued local economy prompted the company to revisit that debt restructuring last year."



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