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MASHREQ SAYS NO SETTLEMENT OFFER RECEIVED FROM SAAD, ALGOSAIBI

November 15, 2009

Nov. 15 (Bloomberg) -- Mashreqbank PSC, the United Arab Emirates-based lender owned by billionaire Abdul Aziz al- Ghurair, said it received “no settlement offer” from Saad Group or Ahmad Hamad Algosaibi & Bros Co., the Saudi family groups that defaulted on payments.



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