Investment Dar restructuring plan approved by banks and investors

By Caroline Salls

Pittsburgh, Dec. 24 - The Investment Dar Co. KSCC and the coordinating committee of banks and investors of the company and the Investment Dar Bank have received the support of more than two-thirds of their banks and investors for their restructuring plan, according to a company news release.

As a result, the company and the committee are proceeding with the final implementation of the proposed plan, which they hope to complete as quickly as possible.

"We are delighted with the overwhelming support for the restructuring plan and would like to thank all our banks and investors for their commitment during these challenging times," chairman and managing director Adnan Al Musallam said in the release.

Coordinating committee spokesman Bader Al-Ali said in the release, "We continue to encourage the small minority of banks and investors who have not yet expressed their support to do so as quickly as possible in order for them to be included in the final implementation phase."

TID is a Kuwaiti shareholding company.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.