Dar to restructure USD3.58b debt

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.

More News

This website uses cookies to ensure you get the best experience and by clicking “I Accept” below, you consent to the use of cookies. Learn more