Saudi Arabia's troubled Saad Group is making headway in restructuring its debt portfolio and is in talks with affected parties, Emirates Business has learnt.
"Saad is making progress with its restructuring programme and will make further announcements on this as appropriate," a London-based spokesperson of the group told this newspaper in an e-mailed statement.
The spokesperson also denied knowledge of the recent reports in media that its owner, Maan Al Sanea, has been sued by the other troubled Saudi conglomerate, the Algosaibi group through the Ahmed Hamad Algosaibi and Brothers Company (Ahab).
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