Tabarak reassures its long term commitment to supporting Drake & Scull
Abu Dhabi- UAE: 1 May 2018 – As a major shareholder and strategic investor in Drake and Scull, Tabarak Investment confirmed today that it hasn’t directly or indirectly sold any of its shares in Drake and Scull recently and is renewing its commitment to reinforcing the company as a long-term investor.
Tabarak’s decision to provide support to Drake & Scull, until completing the Sukook that can be converted into shares, is a result of Tabarak’s confidence that the ongoing restructuring is on the right track. The support to Drake & Scull includes interest-free loans according to a timeline, in addition to backing the company with banks to support future projects.
Tabarak and its subsidiaries continue to award new projects for the benefit of Drake & Scull PJSC companies. The current value of these projects reaches to AED 1.5 billion.