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Dubai Holding’s DIC agrees $2.4B debt restructuring

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.

November 24, 2011 3:10 by

“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. (Reporting by David French and Mirna Sleiman; Editing by Rachna Uppal)

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