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Wednesday, 14 April 2010

DIC says to continue Almatis debt revamp efforts

Private equity fund Dubai International Capital (DIC) [DUBAHP.UL] said it would continue to seek a refinancing of the debt of German aluminium firm Almatis [ALMTI.UL] despite an adverse Dutch court decision.

"The decision by the Enterprise Chamber of the Amsterdam Court of Appeal not to grant an injunction does not affect DIC's ability or intention to pursue a refinancing of Almatis," DIC said in a statement.

The court denied a DIC petition asking for more time for a refinancing plan, media reports said.