Dubai World plans new asset sales to repay $4.4bn debt due next year | The National

Dubai World plans new asset sales to repay $4.4bn debt due next year | The National:



"Dubai World, the government conglomerate, is planning new asset sales as it seeks to repay about US$4.4 billion of debts due next year as part of its overall $25bn restructuring.





The new disposals follow the company’s early repayment of about $284.5 million to creditors under the terms of the 2010 deal with banks to settle Dubai World’s debt problems. When Dubai World announced in November that it was looking for a standstill deal with its lenders, it triggered the financial crisis from which the emirate is now emerging.



A source close to the company said assets that could come under the hammer included investments made by Dubai World and its subsidiary, Istithmar World, before the financial crisis."



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