Al Jaber Group signs debt restructuring agreement with lending banks

ABU DHABI: Al Jaber Group (AJC) has announced that it has completed the signing of all the documents of the debt restructuring with lending banks, thereby concluding the negotiations for the deal.

Al Jaber Group Chairman, Obaid Khaleefa Al Jaber Al Marri said, “I am pleased to announce that Al Jaber Group signed the debt restructuring agreement with its creditors. This is a great milestone for both the Group and the banks, and is a testimony to the solid market positioning of Al Jaber Group and an outcome of its long history of its achievements in U.A.E. and the region.”

“Throughout the negotiations, Al Jaber Group has continued to successfully operate, winning significant new business in U.A.E., the region and Asia. The finalization of the agreement further enhances Al Jaber Group s success and ongoing growth.” “I am also pleased with the cooperation extended to us by the lending banks, the creditors coordinating committee, our lawyers and consultants and all parties who participated in the negotiations process,” Al Marri added.

Al Jaber Group (AJC) is a privately owned diversified group of companies specialising in contracting, construction, logistics, industry and trading.

SOURCE: WAM