Maridive Denies US$50 Mln Loan From Banque Du Caire

Egypt’s Maridive and Oil Services (MOIL.CA), the biggest oil services company by fleet size in the Middle East, denied news about US$ 50 million syndicated loan from Banque Du Caire.

In a release responding to the Egyptian Exchange (EGX)’s inquiries, Maridive said some banks working locally are offering syndicated loans and different banking services to the company but any of them have not been discussed yet.

It is worth noting that some news published on Sunday that Banque Du Caire is currently studying providing a US$50 million syndicated loan for Maridive aiming to support the company’s marine unites.

Meanwhile, the Vice Chairman and CFO of Maridive Emad Fawzy, has declined to disclose the reasons behind obtaining the loan.

Maridive fleet currently comprises 73 marine units.