NMC in talks with lenders to keep away from administration

FILE PHOTO: Common view of NMC specialty hospital in Abu Dhabi, United Arab Emirates, February 11, 2020. REUTERS/Satish Kumar/File Photograph

(Reuters) – Troubled hospital group NMC Well being (NMC.L) stated on Monday it’s in talks with Abu Dhabi Industrial Financial institution ADCB.AD, searching for to persuade it to withdraw an utility that the lender had filed proposing that NMC be positioned beneath administration.

The decision with lenders is more likely to contain modifications to company governance on the firm and the composition of the board itself, stated NMC, which has been combating excessive debt and administration points.

On Sunday, Emirates NBD (ENBD.DU) and Dubai Islamic Financial institution (DISB.DU) disclosed a whole bunch of thousands and thousands of {dollars} of publicity to NMC.

Reporting by Muvija M in Bengaluru; Enhancing by Bernard Orr

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