Gosaibi, steering committee, debts, restructure | The National:
"The beleaguered Saudi conglomerate Ahmad Hamad Al Gosaibi & Brothers (Ahab) has announced the establishment of a steering committee for the negotiation of its $5.9bn debt restructuring.
The committee, announced by Ahab on Tuesday, consists of representatives of five institutions, including players from the GCC and beyond, “to facilitate discussions and negotiations … relating to the settlement process”.
The establishment of a steering committee is regarded as a significant step by Ahab because a previous attempt to deal with creditors collapsed when a consensus failed to emerge after a 2010 meeting in Dubai."
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