Shuaa Capital says it has completed a debt buyout of Dubai offshore vessel operator Stanford Marine Group’s (SMG) AED 1.13bn ($308m) facility.
The UAE-based asset manager said it has been working with SMG’s lending syndicate and their advisors to arrive at a buyout deal that “met all parties’ objectives” since 2019.
“The restructuring strengthens SMG's liquidity position and results in a successful outcome for all parties involved, including the participating banks,” Shuaa Capital said.
