Please wait...
GulfBase Live Support
Leave a message and our representative will contact you soon
- Bahrain All Share Index closes lower
- Gold Inches Lower as Dollar Gains, Markets Await Fed Appointments
- Doha Bank bolsters Tadbeer services to enhance payroll digital solutions for government entities
- US rate cut expectations place QSE at multi-year high; M-cap adds QR2.38bn
- ADNOC ranked 6th most valuable global energy brand in Brand Finance Energy 100 report
- Why UAE, Saudi, Qatari banks are giving out more loans at lower interest rates
- Fakeeh group delivers 1H 2025 revenue of SR1.51 billion, up 13% year-on-year
- Dubai Aerospace Enterprise records $843.6m revenue for H1 2025
- Abu Dhabi foreign trade soars 35% in H1 as UAE races toward Dh4 trillion target
- UAE: Strong sales push Emaar's profit to Dh10.4 billion during first 6 months of 2025
01/10/2017 07:34 AST
Dubai-based Gulf General Investment Company (GGICO) said it has completed a Dh2.1-billion ($584 million) debt restructuring after reaching an agreement with majority of its creditors.
Established in 1973, GGICO is a conglomerate listed publicly in the Dubai Financial Market, with widely diversified activities in real estate, retail, hospitality, financial services, manufacturing and services.
Chairman Abdalla Juma Al Sari said this was a win-win deal both for GGICO and the creditors.
"Driven by market conditions, we have obtained enough time until 2023 to dispose of our non-core assets in an organized and structured manner and to retire the debts. Subsequently, the company will focus on its core assets with very low leverage," he noted.
Al Sari thanked all the creditors, steering committee members and its chairman Bruno Navarro besides the financial advisor PricewaterhouseCoopers, Legal Counsel M/s. Al Tamimi and Company, Legal Counsel of the creditors M/s. Allen & Overy, the security agent Deutsche Bank and the company Management for achieving this milestone.
Trade Arabia
02/04/2018
Gulf General Investment Company (GGICO) is in talks with lenders to restructure loan and credit facilities after defaulting on a payment linked to $585.5 million (2.15 billion dirhams) of debt at the
Arab News
21/12/2017
Gulf General Investment Company (GGICO), a Dubai-based diversified conglomerate, said it will start handing over the one-bedroom apartments at its Topaz Residences Tower 1 project located in Dubai Si
Trade Arabia
30/09/2017
Dubai-based Gulf General Investment Co. PSC (GGICO) announced that it has completed a Dh2.1 billion ($584 million) debt restructuring after obtaining agreement from the majority of its creditors.
Gulf News
| Ticker | Price | Volume |
|---|
07/08/2025
Doha Bank is enhancing its digital payroll solutions for government entities through the expansion of its secured "Tadbeer" platform.
Designed to streamline salary upload services, the platf
Gulf Times
07/08/2025
ADNOC has been ranked the sixth most valuable energy brand in the world, according to Brand Finance's 2025 Energy 100 report.
The company's brand is now valued at US$19 billion, a 25 percent
Gulfnews
07/08/2025
Dr Soliman Abdel Kader Fakeeh Hospital Company and its Subsidiaries ("Fakeeh Care Group", "FCG", "Fakeeh Care", the "Company" or the "Group"), a leading fully integrated academic healthcare provider
Saudi Gazette
07/08/2025
Emaar Properties on Wednesday announced net profit before tax increased to Dh10.4 billion in the first half of 2025, a growth of 34 per cent compared to the same period last year, driven by robust pe
Khaleej Times
07/08/2025
Saudi Aramco has increased the official selling price of its flagship Arab Light crude for Asian buyers in September.
The state-owned energy giant raised the Arab Light price by $1 per barre
Arab News
Financial Information Co.
P.O. Box 69410, Jeddah 11547, Saudi Arabia