Zain Group bails out Saudi unit with USD231m loan payment

17 Dec 2012

The Kuwait-based parent company of Zain Saudi Arabia has paid Motorola SAR867.8 million (USD231.4 million) to cover costs still owing from an equipment contract carried out in 2009. Zain Group said it is paying the monies owed to the vendor to help alleviate some of the financial burdens weighing down upon its Saudi subsidiary.

Saudi Arabia, Zain Group, Zain Saudi Arabia