Damas International, the largest gold and jewellery retailer in the Middle East, says it is close to finalising a restructuring agreement on debt worth more than Dh3 billion (US$816.7 million).
The deal would allow the company to repay Dh1bn over six years and use the rest as working capital, said Anan Fakhreddin, the company's chief executive.
The company, based in Dubai, is days away from signing the deal ahead of a January 31 deadline, Mr Fakhreddin said.
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