Dubai – Mubasher: DXB Entertainments on Wednesday stated that it will get a subordinated loan at a value of AED 245 million from the largest shareholder in it, Meraas.

The loan is with interest rate, and it will be allocated for financing the operational expenses and repaying debts, according to the firm’s statement.

“This loan will enable the business to execute on [Meraas] strategy which will generate value for its shareholders over the long-term,” Mohamed Almulla, the company’s CEO said.