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Sovereign Wealth Funds Briefing - Categorized | Asset Allocation, Financials

Dubai’s debt restructuring plan gathers pace with DIC asset sale poposal

Posted on 17 September 2010

From Bloomberg: Dubai’s effort to resolve its debt woes is gathering pace after Dubai International Capital LLC presented plans to sell assets to repay $2.6 billion.

The company, part of Dubai Holding LLC that is owned by the emirate’s ruler Sheikh Mohammed Bin Rashid Al Maktoum, has proposed to sell assets over five years and sought a second extension until November on the repayment of a $1.25 billion loan, two people familiar with the plan said yesterday…………………………………….Full Article: Source

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