Bahrain's Arcapita eyes new investments after first Gulf Chapter 11 | Reuters:
"* New Arcapita entity eyes new deals after Chap. 11 - CEO
* Firm split in two after restructuring - one holds existing assets
* Other to manage asset sale process, complete new deals
* Targeting health, edu, logistics sectors; assets yielding 8 pct
* Brand still carries credibility with investors
* First Gulf firm to use Chap. 11 process
By David French
DUBAI, Sept 29 (Reuters) - Bahrain-based Arcapita is aiming to build a new asset management firm with a debut local deal in the logistics, education or healthcare sector as the company recovers from the first Chapter 11 bankruptcy process undertaken by a Gulf Arab entity.
The Islamic investment firm emerged from Chapter 11 on Sept. 17 after seeking court protection in March 2012 under hedge fund pressure ahead of the repayment of a $1.1 billion Islamic loan.
Under the court-approved restructuring plan, Arcapita is to be split into two entities: one which will hold the existing company assets as they are sold down to pay creditors, with a second in charge of the process' management."
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