UAE’s Al Jaber Group plans USD4.5b restructured financial obligations

01 Apr 2015

(MENAFN) UAE’s Al Jaber Group signed a lengthy restructuring accord, which sets new conditions for the USD4.5 billion of the Group’s financial obligations, Arabian Business reported.

As a result of the accumulated and restructured debt, the Group announced suspending its chief financial officer by way of remedial act, the group said in a statement.

The conglomerate’s focal business is construction but it also deviates from its core business into retail and aviation. The company eyes corrected and improved results from its recent measures.

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