Exclusive: Detained Saudi billionaire al-Sanea seeks to end debt dispute:
"A detained Saudi billionaire who led the collapsed Saad Group is seeking to repay part of a multi-billion dollar debt to creditors under a deal that could allow his release, people familiar with the matter told Reuters. The businessman, Maan al-Sanea, was detained in October in the kingdom’s Eastern Province for unpaid debts, and has since been in a civil detention center in the city of Khobar, according to several sources. Reemas Group, a financial consultancy hired by Saad Group, has outlined a proposed settlement covering $4 billion in debt. In an email sent by Reemas to creditors, of copy of which Reuters has obtained, it suggests that they would get more of their money back than under a court-enforced liquidation of the company, albeit over a longer period."
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