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Saad creditors sell debt cheaply

Tue, 2010-09-21 13:12 — newsdesk

Saudi conglomerate Saad Group's creditors sold some of their debt cheaply for just 15 cents on the dollar two weeks ago in order to reduce exposure. The National newspaper said that the foreign banks made the sales. Saad Group is embroiled in a legal disputes with Al Gossaibi group on different fraud charges.

Source: 

http://www.zawya.com/story.cfm/sidZAWYA20100921050024/Saad%20Creditors%2...