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Investment Dar offers assets to creditors
- Kuwait: 5 hours, 8 minutes ago
Investment Dar Co, a shareholder in luxury carmaker Aston Martin, is offering some of its assets to creditors as the Kuwaiti firm restructures debt, Bloomberg has reported Investment Dar, which defaulted on a $100m sukuk in 2009, restructured about $5bn of debt in 2011 after the global financial crisis reduced the ability of some Kuwaiti companies to repay debt. The settlement-in-kind offer is optional and open to all creditors, Investment Dar said. Creditors not inclined to take the offer will retain their claims under the restructuring plan approved by a Kuwaiti court, the company said, without providing details of the assets.
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