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Dubai International Capital revamps operations

14 Jun 2010

(MENAFN) Dubai International Capital (DIC), the private equity arm of Dubai Holding, said that its board was dissolved in January to implement a new governance structure. The company is now under the supervision of its parent Dubai Holding, Reuters reported.

All sub-committees of the DIC board including investment and audit committees remain in place, the company said in a statement issued in Dubai.

Some of the assets in DIC’s portfolio included stakes in Almatis, a German aluminium company, Merlin Entertainments Group, Travelodge, Doncasters, Alliance Medical and Mauser in Germany.

DIC has an estimated $2.6 billion of debt maturing next year. Last month the company sought extension of $1.25 billion worth debt for three months.

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