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15/06/2011 00:00 AST
Investment Dar, which owns half of carmaker Aston Martin, will pay about 82 million dinars ($298.7 million) to individuals and small non-financial institutions in the first year of its debt restructuring plan.
The Kuwaiti firm was granted court's approval to implement its eight and half year restructuring, in which it aims to pay back over $3.5 billion to creditors and be admitted under the Financial Stability Law.
'In the second, third, fourth and fifth years there will be fixed payments to the remainder of the banks and investors, followed by a final payment before June 30, 2017,' Dar said in a statement on Wednesday.
The repayments will start on June 30.
Dar had proposed asset sales of about $1.69 billion over three years to creditors to restructure its debt pile early in the year.
During the plan's duration, Dar will remain subject to various commercial restrictions given by the court which include a freeze on dividends to shareholders on new investments and on taking new indebtedness.
'Work is also underway to investigate how banks and investors may trade their exposure,' added the firm.
Reuters
22/09/2015
Indebted Kuwaiti financial firm Investment Dar is seeking court approval to help close a KD813 million ($2.7 billion) debt restructuring, according to an official document seen by Reuters.
Reuters
21/06/2015
Kuwait's Investment Dar said on Sunday that a Kuwaiti court had rejected the company's appeal against a ruling to lift protection it had against legal action by creditors.
The company, whi
Reuters
10/12/2014
Investment Dar, the Kuwaiti firm best-known for its stake in luxury carmaker Aston Martin, hopes to complete a second debt-for-assets deal with creditors by the end of March, it said in a bourse stat
Reuters
| Ticker | Price | Volume |
|---|---|---|
| RIBL | 29.20 | 3,343,315 |
| WINSRE | 163.00 | 212,941 |
| ACICO | 77.00 | 317,226 |
| MAADANIYAH | 18.10 | 371,342 |
| SISCOHOLDING | 36.10 | 288,956 |
| DEYAAR | 0.94 | 10,971,491 |
| NGC | 22.90 | 166,660 |
| Ticker | Price | Change |
|---|---|---|
| BURGERIZZR | 12.50 | -0.50 (-3.85 |
| ALMUTAHED | 0.00 | 0.00 (0.00 |
| ALMAL | 0.00 | 0.00 (0.00 |
| ALAMAN | 0.00 | 0.00 (0.00 |
| MASSALEH | 0.00 | 0.00 (0.00 |
06/02/2025
Saudi utility giant ACWA Power has signed two agreements with Aramco to accelerate the deployment of renewable energy projects and evaluate the performance of vanadium flow batteries in the Kingdom's
Arab News
05/02/2025
Al Rajhi Bank, a pioneer in innovative banking solutions in Saudi Arabia, has announced a strategic partnership with RATL Technology, the owner of Muhide fintech platform, to digitally empower and fi
Saudi Gazette
14/09/2024
RIYADH: Saudi master developer Emaar The Economic City's SR8.7 billion ($2.32 billion) capital optimization plan is a "strategic response" to its current financial challenges, according to its CEO. <
Saudi Gazette
12/09/2024
Saudi wheat flour producer Arabian Mills for Food Products Co. has set its final initial public offering price at SR66 ($17.59) per share on the Tadawul main market. During the book-building proces
Arab News
04/05/2018
SABIC announced the successful completion of the pilot operation of the Methyl Methacrylate Monomer (MMA) and Poly Methyl Methacrylate (PMMA) plants and the commencement of commercial operations.
Saudi Gazette
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