Dubai International Capital (DIC) is losing almost all of its 60 per cent stake in the UK's Alliance Medical in the diagnostic imaging company's takeover by banks.
Under a deal reached on Friday, DIC, the private equity arm of Dubai Holding, is to retain just 2.5 per cent of Alliance, the UK's largest provider of MRI and CT scan equipment to hospitals. DIC bought control of the company in 2007 in a transaction that valued it at £600 million (Dh3.48 billion).
'Following the successful restructurings of our core European portfolio companies Almatis, Doncasters, Mauser and Travelodge, we have now completed the last restructuring in our portfolio,' a DIC spokesman said."
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