Qatari Diar advances on plan to bail out Barwa Real Estate | Doha News:
"A government-backed shareholder of Barwa Real Estate has agreed to buy its stake in Barwa Bank, the indebted developer has said. The move would pump some QR2.4 billion (US$659 million) into the Qatari firm, in exchange for 37.34 percent of the bank.
The deal – which still requires legal and government approval – is part of an existing agreement that would see the Qatari Diar, which is owned by the Qatar Investment Authority, buy QR20 billion ($5.49 billion) worth of assets from Barwa Real Estate to help it reduce its liabilities.
The Diar already owns 45 percent of the Barwa Group, the parent company of Barwa Real Estate that also has interests in financial services and infrastructure."
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