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FINANCIAL NEWS
Dubai Group to ink debt-restructuring deal in 6 weeks
12 May 2013
(MENAFN) Dubai Holding’s CEO, Ahmad Bin Byat, announced that the USD10 billion debt restructuring of the company’s unit Dubai Group is projected to take place in 6 weeks, reported Emirates 24/7.
Byat said that following the restructuring agreement; the company will become an independent one.
The restructuring proposal comprises asset sales, even though the company, which owns part of Borse Dubai that owns 20.6 percent of the London Stock Exchange, does not expect to sell any of its major assets in 2013.
It is worth noting that following the restructuring; the board of Dubai Group will include representatives from creditor banks and shareholders, in addition to independent members.
More News
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CBB approves the transfer of the retail banking operations of HSBC Bank Middle East, Bahrain Branch to BBK
02 Jul 2025
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12 May 2025
Alsharifi: “Proud of our strategic partnership with the Royal Humanitarian Foundation”
04 May 2025
BBK offers exclusive Mortgage Loans for luxury villas and apartments on Reef Island
30 Apr 2025
BBK discloses its financial results for the first quarter ended 31st March 2025
25 Mar 2025
BBK’s General Assembly Approves 35% Cash Dividend Distribution to Shareholders
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