October 13, 2021 | finance & economy

Kuwait's Al Safat settles debts worth nearly $199m: CEO


RIYADH: Kuwait's Al Safat Investment Company has settled 60 million dinars ($198.8 million) worth of debts with 5 different parties, chairman Abdulla Alterkait told CNBC Arabia.

This is one of three steps taken by the company as part of its restructuring process, according to Alterkait.

The company also settled 85 cases filed against the company, with a value exceeding 80 million dinars, he said.

A number of investments that were affected in the last period have also been exited, he added.

The company has over $150 million worth of assets under management, Alterkait said.

arabnews

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