Classifieds powered by Gulf News

DSI to receive Dh100m loan from Tabarak Investment

Loan to meet the firm’s immediate working capital requirements

Gulf News

Abu Dhabi

Drake & Scull International (DSI) has announced that it will receive an interest-free ‘Qard Hasan’ loan of up to Dh100 million from Tabarak Investment as part of company’s capital restructuring programme.

The loan will help meet the immediate working capital requirements of DSI until it completes its capital restructuring programme, which includes a capital increase of Dh500 million to expedite Tabarak Investment’s entry as a strategic investor, the company said. The withdrawal and payment mechanisms of the loan will be mutually agreed upon by the two parties and could be implemented in tranches.

For information on the real estate sector within the UAE, please visit our sister site, getthat.com.

Loading...