Your feedback is important to us!
We invite all our readers to share with us their views and comments about this article.
Disclaimer: Comments submitted by third parties on this site are the sole responsibility of the individual(s) whose content is submitted. The Daily Star accepts no responsibility for the content of comment(s), including, without limitation, any error, omission or inaccuracy therein. Please note that your email address will NOT appear on the site.
Alert: If you are facing problems with posting comments, please note that you must verify your email with Disqus prior to posting a comment. follow this link to make sure your account meets the requirements. (http://bit.ly/vDisqus)
Turkish billionaire Ferit Sahenk's Dogus Holding AS is seeking buyers for luxury hotels across southern Europe, including the Capri Palace, according to people with knowledge of the matter.Standard & Poor's Tuesday cut Istanbul-based Dogus's rating to B-, citing the firm's inability to execute a planned refinancing 725 million euros for itself and 1.6 billion euros for its investee companies contrary to the agency's expectations.As Dogus moved to reduce its debt load, earlier this year it agreed to sell 17 percent of d.ream International BV, which owns restaurant brands including Azumi and Nusr-Et, for $200 million to Singaporean investment firm Temasek Holdings Pte and London-based Metric Capital Partners LLP. Istanbul-based Dogus has sold assets worth 313 million euros this year, compared with debt of 73 million euros maturing next year and 253 million euros within the next two years, S&P said.
FOLLOW THIS ARTICLE