Bankrupt construction giant Arabtec's engineering services business put up for sale
It was Jan. 2021 one of Gulf's biggest contractors filed for bankruptcy after heavy losses
Source: gulfnews.com
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Dubai-listed Arabtec confirms hiring firms to sell its subsidiaries Target, AES
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Source: zawya.com
Arabtec appoints advisers to sell subsidiaries ahead of liquidation
SHARE Arabtec is planning to sell its two subsidiaries Target Engineering and Arabtec Engineering Services (AES) as the construction giant faces liquidation. The move will help the company in “protecting the value of liquidation assets in the interest of all of its creditors", Arabtec said in a statement to the Dubai Financial Market on Wednesday. The company’s shareholders in September authorised the board to file for liquidation due to its untenable financial position. “In the event a sale of any of the company’s subsidiaries or their assets is agreed, any such sale will be subject ...
Source: thenationalnews.com