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Monday, 22 March 2010

Dubai International Bids to Stop Oaktree Capital Owning Almatis

Dubai International Capital LLC filed a petition in the Amsterdam Court of Appeal to stop a plan to restructure debt of alumina-products make Almatis, it said in a statement today.

The restructuring plan was proposed by Oaktree Capital Management LLC and would see the asset manager take control of Almatis, according to people familiar with the matter.

Dubai International has owned the German alumina-products maker since 2007.END