Warehouse property developer Gazeley could be put on the market as its owner seeks to repay some of its £1.3 billion debts this year. It is believed the investment bank Rothschild has been brought in to assist in the sale process.
Economic Zones World (EZW), a unit of Dubai World, runs technology, logistics and industrial parks, and also the Jebel All Free Zone (JAFZA) under Dubai World Group umbrella. Gazeley is one of four businesses that EZW owns.
Unnamed sources said that a sale of Gazeley would help EZW to repay part of debt maturing at JAFZA. JAFZA is planning to refinance a $2.04 billion Islamic bond maturing in November this year.
No comments:
Post a Comment