Saad and al Gosaibis consider peace plan - The National Newspaper

Grant Thornton, the international accounting firm, is trying to broker a peace deal to end one of the Middle East’s longest-running business feuds.

The firm has approached the al Gosaibi family of Saudi Arabia with a plan to end the hostilities between it and Maan al Sanea, the Kuwaiti-born entrepreneur who built the Saad Group, sources say.

Grant Thornton has also put a proposal to the creditors of the two businesses, which are owed as much as US$20 billion (Dh73.45bn) as a result of the financial problems at the two Saudi companies. The plan was first suggested earlier this year and heads of agreement drawn up for the two sides, but they have not yet been signed.