On 1st February 2012, MEED published an article entitled “Saudi corporates plan debt restructuring in 2012” which appeared in both MEED magazine and online on meed.com.

The article stated that Saudi conglomerate Abdel Hadi Abdullah Al-Qahtani & Sons Company (AHQ) had appointed the US based firm Lazard to provide advice on restructuring the firm’s debts.

MEED received an objection from AHQ denying this to be the case and confirming that AHQ has not appointed Lazard or any other financial advisor nor is it going through a restructuring of its debts.

MEED endeavors at all time to provide accurate, timely and independent information about business activity in the Middle East and whenever MEED discovers that MEED has inadvertently published inaccurate information, MEED acts promptly to correct the wrong information.

MEED accepts that an error has been made and that AHQ is not involved in a restructuring of its debts. MEED regrets any wrong impression caused by its article naming AHQ and apologises for any inconvenience caused to Abdel Hadi Abdullah Al-Qahtani & Sons Company.