The UAE company, Arabtec Holding, denied what was mentioned by an international news agency regarding the company’s appointment as a consultant to restructure its debts.
Last Friday, Reuters reported that Arabtec had appointed Alex Partners as a consultant to restructure its debts, indicating that the latter would evaluate Arabtec's debts before any possible discussions with its creditors.
Arabtec said in a statement to the Dubai Financial Market today, Monday, that it is working with a group of consulting firms, including Alex Partners, to develop solutions and recommendations to be presented to shareholders at the next scheduled general meeting. Held on Wednesday, September 30th, for discussion and approval.
the company added that it is keen to adhere to the legislative texts related to disclosure and transparency.
It is decided that the public will discuss all the options available to the company, whether in continuity, dissolution or otherwise in light of the current situation, and according to the provisions of the Commercial Companies Law and its amendments, and the laws, decisions and regulations in force Out in the state.
