DUBAI Dec 8 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.
(Reporting by David French; Editing by Andrew Torchia)