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Dubai-listed Arabtec to hire deNovo to sell its subsidiary Target -sources

Jan 12, 2021 - Nasdaq

DUBAI, Jan 12 (Reuters) - Dubai-listed contractor Arabtec Holding ARTC.DU is going to hire corporate advisory firm deNovo for a potential sale of its subsidiary Target, two sources said.

The Dubai-listed builder that is facing liquidation is hoping that funds raised will be used to pay creditors and salaries, said the sources, declining to be named as the matter is not public.

Arabtec's engagement with deNovo is due to begin this week, said one of the sources.

Arabtec and deNov...