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FinancialNews
03-09-18
15 Kuwaiti firms target merger amid bankruptcy fears
(MENAFN) Fifteen Kuwait-based firms are reportedly eyeing a merger in an attempt to steer clear of bankruptcy ahead of this year's end.
Al-Shahed daily reported the move has first been considered in the middle of growing pressures among companies by the banks undergoing challenges.
The involved firms are currently eyeing external entities while they work on projects inside and outside of Kuwait, Al-Shahed reported citing a source.
One of the key difficulties was explained to be the incapability of the firms to make loan payments despite few of them being involved in real estate, investment, and automobiles.
MENAFN0309201800450000ID1097379058
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