The board of Dubai-listed construction and engineering firm Drake & Scull (DSI) has appointed PricewaterhouseCoopers (PwC) as a strategic and financial advisor, DSI said on Thursday.
The consultancy firm will assist with "examining the company's capital structure and financial liabilities", according to a bourse filing.
DSI announced last month it was reviewing its business to address market challenges which could lead to a withdrawal from non-core markets, retrenching on civil works in Saudi Arabia and a more conservative stance on recovering certain receivables.
The company has been battling a depressed construction market in the Gulf, as governments rein in spending on infrastructure schemes in the wake of the decline in oil prices.For all the latest construction news from the UAE and Gulf countries, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page, which is updated daily.
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