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The company will focus on its core assets with very low leverage, CEO said
30/09/2017 15:41 AST
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.
Abdalla Juma Al Sari, Chairman of the company, believes this is 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 organised and structured manner and to retire the debts. Subsequently, the company will focus on its core assets with very low leverage" Al Sari said.
Gulf News
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
01/10/2017
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.
Es
Trade Arabia
| Ticker | Price | Volume |
|---|---|---|
| RIBL | 29.20 | 3,343,315 |
| FUTUREKID | 111.00 | 1,345,644 |
| SAUDIELECTRICITY | 17.32 | 1,083,445 |
| ALRAJHITAKAFUL | 173.40 | 64,793 |
| JAZADCO | 13.34 | 159,758 |
| AICTEC | 3.60 | 27,909 |
| AMERICANA | 2.56 | 18,826,984 |
| 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 |
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Arab News
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Saudi Gazette
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Saudi Gazette
12/09/2024
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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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