LONDON: Top global hotelier Six Continents Plc, which is facing a takeover attempt by British entrepreneur Hugh Osmond, could find its banking facilities under threat if war breaks out in Iraq, the Financial Times (FT) reported yesterday.
The five banks providing the £3.2bil syndicated loan facility have included a material adverse change clause, which allows them to stop the firm from accessing the funds if there is a war, according to the report.
Already a subscriber? Log in.
Win a prize this Mother's Day by subscribing to our annual plan now! T&C applies.
Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!
