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DIC agrees $2.4bn debt restructuring

Dubai, November 24, 2011

Dubai International Capital (DIC), a unit of Dubai Holding, the conglomerate owned by the ruler, has agreed the terms for a $2.4 billion debt restructuring with its creditors, two sources familiar with the situation said on Thursday.

'I can confirm that the DIC restructuring has been agreed,' a spokeswoman for DIC said.

DIC's assets include UK hotel chain Travelodge, Doncasters and European aluminium maker Almatis Holdings BV.  - Reuters




Tags: Dubai Holding | Dubai International Capital | DIC | Restructure |

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