Al Jaber Group completes Debt Restructuring Agreement
Abu Dhabi – September 30, 2014 — Al Jaber Group announced today the successful completion of its debt restructuring agreement with its lending banks.
Al Jaber Group Chairman, H.E. Obaid Khaleefa Al Jaber Al Marri said, “I am pleased to announce that Al Jaber Group has successfully completed 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 the UAE and the region.”
Throughout the negotiations period with the lending banks, Al Jaber Group has continued to successfully operate, and has been winning major projects and new business in the UAE, the region and Asia. The Group has secured multi-billion Dirham projects in the first three quarters of 2014, and will announce further new project wins in the fourth quarter of this year.
“The finalization of the agreement will enable us to proceed in executing our plans and focus on our operations for winning and executing new strategic projects”, H.E. Al Marri added.