Fifteen companies in Kuwait eye merger to avoid bankruptcy | ZAWYA MENA Edition

Fifteen companies in Kuwait eye merger to avoid bankruptcy | ZAWYA MENA Edition:

Fifteen companies are reported to be considering a merger to avoid bankruptcy before the end of 2018 amid pressures mounted on companies by the banks facing difficulties, reports Al-Shahed daily.

The daily quoting a source said the companies in question are working with external entities and they have projects inside and outside the country, indicating the companies are enmeshed in accumulation of short-term loans granted by the banks to execute longterm projects and causing a series of problems.

Chief among the problems is inability of the companies to pay the loan even though some of them are involved in real estate, investment, and automobiles.