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| 12 July, 2018

Dana Gas seeks to complete sukuk settlement

Dana Gas is keen on fulfilling all the legal requirements for the settlement in the sukuk case in the UAE and UK by the end of the month

UAE's Dana Gas building in Cairo.

UAE's Dana Gas building in Cairo.

REUTERS/Mohamed Abd El Ghany

Abu Dhabi –  Dana Gas is keen on fulfilling all the legal requirements for the settlement in the sukuk case in the UAE and UK by the end of the month, head of investor relations Mohammmed Mubaideen told Mubasher.

In June, Dana Gas announced that its offer to restructure and refinance the $700 million disputed sukuk was approved by 96.7% of sukukholders.

The Abu Dhabi-listed company and the sukukholders committee entered into an agreement to end all their litigations and waive claims.

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Dana’s CEO Patrick Allman-Ward described the deal as “good”, adding that “Dana did not want to be in a litigation with its sukukholders”, Bloomberg reported recently.

Translated by: Muhammad Khalid

Source: Mubasher Exclusive

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