Debt ridden DSI sells stake in One Palm; transaction to yield over AED300mn
Drake and Scull (DSI) has sold its stake in One Palm to Omniyat Properties. The deal will provide over AED300mn of liquidity to the general contracting and engineering company once all phases are completed. One Palm was a JV of Omniyat Properties and DSI. The first phase of settlement has been approved and the proceeds will be paid this month.
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