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Sovereign Wealth Funds Briefing - Categorized | Financials, Market

Dubai World sale of crown jewels seen as last option

Posted on 27 August 2010

From Reuters: Dubai World’s willingness to sell prized assets such as ports operator DP World to pay down its debt pile is considered such a drastic move that analysts see it more as a last-resort bargaining tactic.
Documents obtained by Reuters this week revealed the surprising news that the debt-laden conglomerate was willing to let go of “strategic assets” such as DP World, Jebel Ali Free Zone and Dubai Maritime City (DMC) as part of a $19.4-billion fundraising effort as it tries to reach a restructuring deal with creditors by October 1……………………………………….Full Article: Source


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