Qatar's Barwa Real Estate Nets $660M In Bank Stake Sale

Law360, New York (January 21, 2014, 6:00 PM EST) -- Qatar-based Barwa Real Estate Co. sold its entire 37.34 percent stake in Barwa Bank Group to Qatari Diar Real Estate Co. for QR2.4 billion ($660 million) as part of a deal with the government-backed property developer to reduce debt, according to a Tuesday disclosure.

Under the terms of the memorandum of agreement between the two, the real estate investment and development company will sell QR20 billion of its assets to Qatari Diar in an effort to restructure its finances by paying down its credit facilities, the...
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