PHOTO
Image used for illustrative purpose. An Asian labourer works at the construction site of a building in Riyadh, Saudi Arabia August 2, 2016. Image used for illustrative purpose.
RIYADH/KHOBAR - Some shareholders of construction giant Saudi Binladin Group (SBG) may transfer some of their shares to the government as part of a financial settlement with authorities, the company said on Saturday.
"Based on information available to management, some of the shareholders may have agreed a settlement that involves transferring some SBG shares to the government of Saudi Arabia against outstanding dues," said the statement, which was emailed to Reuters.
(Writing by Hadeel Al Sayegh; Editing by Edmund Blair) ((Hadeel.AlSayegh@thomsonreuters.com; +971566883310;))
"Based on information available to management, some of the shareholders may have agreed a settlement that involves transferring some SBG shares to the government of Saudi Arabia against outstanding dues," said the statement, which was emailed to Reuters.
(Writing by Hadeel Al Sayegh; Editing by Edmund Blair) ((Hadeel.AlSayegh@thomsonreuters.com; +971566883310;))
