24th June 2009 - UPDATE 3-Saad picks adviser on $6 billion debt talks

Earlier this month, the Saudi central bank froze the accounts of Maan al-Sanea, the billionaire chairman of the private investment company Saad Group which had run into serious financial difficulties. The Saad Group has now proposed the appointment of Credit Suisse as an adviser to assist in the restructuring of its $6 billion debt.