(Fixes PJT chairman and CEO’s previous identify in paragraph six)
DUBAI, July 13 (Reuters) – PJT Partners, a U.S.-based advisory-targeted expense lender, has struck a partnership offer with deNovo Corporate Advisors, a Dubai-primarily based advisory organization, deNovo stated on Monday.
The two firms will jointly present financial advisory solutions to shoppers in the Middle East, like massive organizations, sovereign wealth resources and loved ones groups, as well as international firms on the lookout to commit in the region.
Several corporations in the area have sought restructuring options, as the double blow of the COVID-19 pandemic and crash in oil selling prices weigh on their capacity to repay their debt.
The United Arab Emirates’ central financial institution cautioned very last week that businesses may become distressed due to the fact of the virus outbreak and their financial debt servicing potential was envisioned to deteriorate this year.
“This arrangement will help deNovo to broaden our world-wide arrive at, much better serve our clients’ increasing intercontinental advisory requirements, and extend our regional product or service expert services in areas these kinds of as restructuring,” deNovo’s founder and government chairman Might Nasrallah reported in a assertion.
Paul J. Taubman, chairman and CEO of PJT, reported the partnership would assist his organization extend its partnership with shoppers in the Middle East.
“We search forward to bringing our total suite of advisory capabilities and major restructuring experience to additional purchasers in the region,” he explained. (Reporting by Yousef Saba Editing by Mark Potter)