Thursday, 6 September , 2018     |     655      |      +      |     

15 companies eye merger to avoid bankruptcy

15 companies eye merger to avoid bankruptcy : Google
  • Business

Fifteen companies are reported to be considering a merger to avoid bankruptcy before the end of 2018 amid pressures mounted on companies by the banks facing difficulties, reports Al-Shahed daily.

The daily quoting a source said the companies in question are working with external entities and they have projects inside and outside the country, indicating the companies are enmeshed in accumulation of short-term loans granted by the banks to execute long term projects and causing a series of problems.


Chief among the problems is inability of the companies to pay the loan even though some of them are involved in real estate, investment, and automobiles.

He explained the companies need the merger to escape bankruptcy in an effort to extend the duration of the bank loans. He explained that some insurance companies have only three options; merger, bankruptcy or exiting the markets in anticipation of incurring losses.

Kuwait Today Business Subscription

Keywords:
Category: #Business | 2018/09/06 latest update at 9:00 PM
Source : Mena FN | Photocredit : Google
656
Comments Add comment

Latest Comments


  
  LinkedIn Gulf Media

Sponsored Publications


Related Articles

The editorial staff of Kuwait Media would like to give all of its readers from Gulf and Kuwait and the whole world the opportunity to participate actively in the development of the website! If you have something interesting, fun, scandalous - just something worth to be seen from more people. Capture it and share it in the Kuwait Today with a short text.

Do you have information you want to reach our readers?

Send article/s

You can subscribe to our Facebook, Twitter and Google pages or use our RSS feed channel to always read the most important news about Kuwait, the Gulf and the world.


Latest searches in Kuwait Today