Drake & Scull International (DSI) has sent a release to the DFM confirming that there are no ongoing legal cases between DSI and Lamar Investments and Real Estate (Lamar). DSI has also confirmed that as a 20% equity shareholder, it is a “primary objective” for the company to successfully complete the project. DSI aims to continue to negotiate with Lamar to settle outstanding financial issues in a mutually satisfactory manner. DSI had also reaffirmed its commitment to the Saudi market, which constituted 25% of DSI’s 2Q16 revenue and 17% of the company’s backlog in June 2016. (DFM) Drake & Scull International (DU): AED0.49 as of 11 October 2016, Rating: Sell, FV: AED0.34 per share, MCap: USD308mn, DSI UH / DSI.DU
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