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Article: Kuwait: Saad in debt restructuring talks with Kuwaiti lenders.
- Article from:
- TendersInfo
- Article date:
- October 1, 2009
CopyrightCOPYRIGHT 2009 Al Bawaba (Middle East) Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Saudi Arabian conglomerate Saad Group has started talks with Kuwaiti lenders to settle its debts in order to avoid further lawsuits, a Kuwaiti newspaper said on Monday citing banking sources. The move comes as Saad Group tries to avoid any further legal action that could be taken by Kuwaiti lenders, after Al Ahli Bank of Kuwait (ABK) sued the group, Kuwaiti daily newspaper Al-Qabas reported. The crisis is on its way to the (debt) settlement negotiations, Qabas said. The negotiations are expected to temporarily freeze legal actions, it added. A spokesman for Saad declined to comment. Last week, ABK sued Saad and its billionaire owner Maan al-Sanea in New York State Supreme ...
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Article: Saad Group and related entities outlook to negative ...
Mena Report;
May 23, 2009 ;
700+ words
... ... stable its outlook on Saudi Arabia-based Saad Group and related entities Standard & ... stable its outlook on Saudi Arabia-based Saad Group and related entities, owing to our view ... outlook revision reflects our view of Saad Group's reduced portfolio liquidity and diversity ...
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