"Al Jaber Group, the Abu Dhabi conglomerate with interests in construction, engineering and marine services, is set to announce a deal with creditors to complete a US$4.5 billion financial restructuring that has taken nearly three years to negotiate.
Bankers involved in the talks with about 20 creditors, speaking on condition of anonymity because the negotiations were private, said a deal to reschedule debts was "materially" complete, and an announcement could be expected "shortly".
Al Jaber is one of the biggest industrial groupings in the UAE, employing more than 50,000 people. It got into financial trouble in 2010 when it was unable to meet some repayment terms on loans."
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