Thursday 31 July 2014
 
»
 
»
Story

Barwa Real Estate selling bank stake for $656m

Dubai, January 20, 2014

Qatar's Barwa Real Estate (BRE) said on Monday it had agreed to sell its 37.34 percent stake in unlisted Barwa Bank for 2.39 billion riyals ($656 million).

The deal, which still requires government approval, is part of an existing agreement with Qatari Diar under which BRE is selling some of its assets to the government-owned property developer to help pay off some of its debt facilities, BRE said in a bourse filing.

The transaction would reflect positively in BRE's fourth-quarter results for 2013, the statement added. – Reuters




Tags: Qatar | Stake | Barwa Real Estate | Bank |

More Construction & Real Estate Stories

calendarCalendar of Events

Ads

Buy high quality China wholesale Health & Beauty , Electronics, Sports & Outdoors , Computers, Video Games, Toys & Hobbies Cell Phones, Automobiles and other wholesale products directly from reliable Chinese wholesalers or Factories on DHgate.com