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FinancialNews


  • 09-02-11

    Dar to restructure USD3.58b debt

    (MENAFN) Kuwait's Investment Dar signed a deal with creditors to restructure USD3.58 billion of its debt through giving them a 10 percent stake in the company, reported Arab News. Dar, which is the owner of 50 percent of luxury carmaker Aston Martin, chose a new creditors committee in December 2010 after the old one decided to quit. The company said that the agreement includes full repayment of debt with profit over a period between 6 to 8 years. It is worth noting that the global financial crisis in 2009 had strongly affected the investment company, which had been trying to restructure its huge debt ever since.

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