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FINANCIAL NEWS
Abu Dhabi fund purchases 5pct share in Dana Gas
20 Jun 2017
(MENAFN) Goldilocks Investment Co., an open-ended equity fund, part of Abu Dhabi Financial Group proclaimed that it had bought 5 percent share of Dana Gas.
Moreover, the fund was set up last Oct as an USD200mn vehicle with a plan of taking minority shares in firms and supporting them to restructure and develop.
However, Dana Gas is suffering to recover hundreds of millions of dollars in overdue payments from Egypt and Iraqi Kurdistan, while it offered a restructuring of USD700mn of its Islamic bonds.
On the other hand, Dana’s shares jumped 66 percent this month after the firm offered the bond restructuring.
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MENAFN2006201700450000ID1095568958
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