Damas International Limited has overcome adifficult scenario with the signing of the agreement for the restructuring of debt valued at about Dh3 billion, according to Ibrahim Belsaleh company chairman.
In an interview with Al Bayan Business, Belsaleh said that the company is going to turn the page of debt with the completion of the signing of the agreement for the liquidation of assets of the Abdullah brothers in Damas real estate.
He noted that access to debt owed by the brothers Abdullah which is Dh614 million is a very important issue as it will allow calculation of cash flows more clearly and accurately. It is important for brothers Abdullah to refund the amount within the fixed period so they avoid exposure to certain actions.
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