Dubai – Mubasher: Gulf General Investment Co (GGICO) has reached a primary agreement with a bank to extend the loans’ repayment plan for a longer period.
The financial impact of this agreement will be hard to determine at the current time, the company said in a statement, adding that it will have a positive effect on the firm.
Sources have told Reuters on Thursday that the company is eyeing a rescheduling plan for its AED 2.8 billion ($762 million) debts.
