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Dubai's Largest Food Firm, IFFCO, Enters Provisional Liquidation
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Dubai's largest food company, IFFCO, is set to enter provisional liquidation after restructuring talks reached a stalemate, complicated by disputes among major shareholders and the Iran war. IFFCO has debts of US$2 billion, the Financial Times quoted sources as saying. A creditor group led by HSBC HOLDINGS (00005.HK) applied to the court in an attempt to take control of the group. Auto-translated by AI AASTOCKS Financial News |
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