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FINANCIAL NEWS
Arabtec’s Shareholder to give 109m debt facility
14 Jul 2016
(MENAFN) Arabtec, a Dubai-listed firm, said its shareholder Aabar Investments had agreed to give it an USD108.9 million debt facility to help weather ‘challenging’ conditions in the regional construction market.
“The amount will provide Arabtec with additional funding to use towards delivering current and new projects in a timely manner”, acting chief executive of Arabtec Holding said.
It’s worth mentioning that Abu Dhabi state fund Aabar Investments owns 36 percent of the largest construction company in the Arabian Gulf by market value.
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