Dubai's DIC seeks cash for Alliance Medical- paper | Reuters

Dubai International Capital (DIC) is in talks with lenders over an urgent cash injection for Alliance Medical to stop the business breaching its banking covenants, the Times reported in its Tuesday edition.

DIC, an investment unit of conglomerate Dubai Holding, is holding negotiations with its lending syndicate to inject up to 150 million pounds ($222.5 million) into the MRI and CT scan services provider, the paper said.

The private equity group has until a deadline next month to stump up the cash to stop Alliance Medical's banks potentially taking control of the business, which is at risk of breaching its banking covenants, the paper said.