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