Gulf General Aims for Debt Accord Within 45 Days, Khaleej Says

Gulf General Investment Co. (GGICO), based in Dubai, aims to reach an agreement on reorganization of its debt within 45 days, Al Khaleej reported, citing Chairman Abdalla Juma Al Sari.

The debt reorganization will take place over eight years, the newspaper said, without giving the amount.

The company said on March 24 that it had hired HSBC Bank Middle East Ltd. as an adviser in the matter.

To contact the reporter on this story: Zahraa Alkhalisi in Dubai at zalkhalisi@bloomberg.net

To contact the editor responsible for this story: Shaji Mathew at shajimathew@bloomberg.net

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