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Saudi Conglomerate Algosaibi Seeks to Rebuild After $7.5 Billion Debt Deal
September 19th, 2021 - 10:00 GMT

Saudi Conglomerate Algosaibi Seeks to Rebuild After $7.5 Billion Debt Deal

After more than a decade of legal battles, The Saudi Algosaibi family has reached a deal with creditors to settle the $7.5 billion debt by keeping most of their company’s operating businesses eyeing going back to the credit market, according to Bloomberg. The Saudi Conglomerate, knowing publically as AHAB, has planned to pay off the debts, totaled SR28 billion, by contributing 90 percent of its assets, with the rest restructured ...
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