Tabarak Investment confirmed today that it hasn’t directly or indirectly sold any of its shares in Drake & Scull.
As a major shareholder and strategic investor in Drake and Scull, Tabarak has renewed its commitment to the company for the long term.
Tabarak’s decision to provide support to Drake & Scull, until completing the Sukuk 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.