DUBAI, Dec 8 (Reuters) - 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