By Davide Barbuscia and Tom Arnold
DUBAI (Reuters) A detained Saudi billionaire who led the collapsed Saad Group is seeking to repay part of a multi-billion dollar debt to creditors under a deal that could allow his release, people familiar with the matter told Reuters.
The businessman, Maan al-Sanea, was detained in October in the kingdoms Eastern Province for unpaid debts, and has since been in a civil detention centre in the city of Khobar, according to several sources.
Reemas Group, a financial consultancy hired by Saad Group, has outlined a proposed settlement covering $4 billion in debt. In an email sent by Reemas to creditors, of copy of which Reuters has obtained, it s…
Read the full article at: http://www.euronews.com/2017/12/11/exclusive-detained-saudi-billionaire-al-sanea-seeks-to-end-debt-dispute