DIC produces plan to keep control of Almatis, UAE Conglomerates, Industry - Maktoob Business

"Financial investment firm Dubai International Capital (DIC) has presented a new refinancing plan for German aluminium company Almatis to a U.S. court that would allow DIC to keep control of Almatis.

The plan would derail a competing plan by Almatis' debtor Oaktree aimed at taking control of Almatis, which has debts of $1 billion, from DIC.

A consortium of banks and debt investors would lend Almatis $600 million, while DIC would inject $100 million in cash under the plan, Almatis said on Monday."

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