Euro banks eye Saad's Swiss unit

Europe's banks are examining ways to reclaim funds from Saudi Arabia's Saad Group, and may take control of its Swiss subsidiary, Saad Investments, a source familiar with the situation said on Friday.

"Lenders are looking at their options, and this may include a claim on Saad's Swiss operations," the source told news agency Reuters.

Banks from outside the Gulf, including BNP Paribas and Citigroup, are owed more than $6 billion by Saad Group, which ran into difficulties in June.