Saudi finance ministry appoints Rothschild to supervise Binladin Group reconstruction: Bloomberg

RIYADH: Saudi Arabia’s finance ministry has appointed the financial advisory Rothschild to supervise the restructuring of the construction firm Binladin Group.

The appointment means the restructuring process will need more time to be completed, Bloomberg reported citing people familiar with the matter.

The restructuring process of Binladin Group started two years ago.

This happens as the Saudi construction company seeks to reduce its debt and to recover following years of losses.