DUBAI/KHOBAR, Saudi Arabia (Reuters) - Saudi authorities are preparing to auction billions of dollars of real estate and cars belonging to billionaire Maan al-Sanea and his company as they look to hasten an end to one of the kingdom's longest-running debt disputes. Most have been released after being exonerated or agreeing to give the state money, assets or real estate. The brochure does not include valuations, but the sources said the real estate was valued at around 4.4 billion riyals, based on an official list of real estate provided to authorities. Reuters was unable to verify whether all of that real estate will be auctioned by Etqaan or the number of vehicles that will be sold. In an effort to stave off the liquidation process, Saad late last year launched its own process to engage with creditors.

Source: The Star February 26, 2018 13:30 UTC