09 Feb 2011
(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.
24 May 2023
Empowering Success: BBK and BIBF honor 24 graduates of the BBK’s Women on Board Programme
16 Mar 2023
BBK partners with Four Seasons Private Residences Bahrain Bay to offer ownership financing for 112 waterfront homes.
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