Abu Dhabi: Al Madina for Finance and Investment announced on Wednesday that it has signed a settlement deal to pay its debt to Global Investment House whereby the company will pay $10.01 million within 60 working days.
In a statement, Al Madina said the payment of the debt will affect the financial results of the fourth quarter of 2014. The company also said that the debt represents 23 per cent of its total debts.
Al Madina will continue to update shareholders on the settlement deal and its affect on the company’s financial results.
