KBBO hires restructuring expert for $2bn debt revamp

KBBO hires restructuring expert for $2bn debt revamp

Abu Dhabi-based KBBO Group, once one of NMC Health's biggest shareholders, has hired a turnaround specialist to restructure its $2bn debt pile, people familiar with the matter said.

The privately-held investment firm with assets in health care and food named Bruno Navarro as its chief restructuring officer, the people said, asking not to be identified because the matter is private.

Navarro has been involved with some of the biggest and most complex debt situations in the Middle East as head of restructuring at Abu Dhabi Commercial Bank and Abu Dhabi Islamic Bank. He has also worked at the International Finance Corporation, a World Bank affiliate, on restructurings in Latin America and Southeast Asia.

KBBO has about $2bn in debt that needs to be renegotiated, leaving banks in the United