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FINANCIAL NEWS
Al Jaber may sell assets for debt restructuring
18 Apr 2011
(MENAFN) Al Jaber Group stated that it is reviewing the impact of selling some of its assets in an attempt to restructure some of the company’s debt, reported The National.
The company said that in addition to property, it is looking into selling a heavy lift business in Singapore.
The company had already started debt restructuring negotiations with a number of commercial banks back in January.
This comes shortly after the company’s COO said that the company does not expect much growth in 2011 in the UAE.
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