UAE's Dana Gas receives bids for Egyptian assets - Reuters:
United Arab Emirates-based Dana Gas (DANA.AD) said on Wednesday it has received bids from some companies for its assets in Egypt.
“We have received a number of bids from a number of companies,” the company’s CEO Patrick Allman-Ward said on an earnings call, declining to say how many bids or from which companies.
The CEO said a final decision had not been taken on whether the company will sell its Egyptian assets. He said offers would be submitted to the company’s board for review and that a decision is expected by the end of March.
Allman-Ward said the company would cover its outstanding sukuk, or Islamic bonds, of $397 million, due on Oct. 31, with the potential sale of its Egypt assets.
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