Dubai Holding's private equity arm DIC will replace its chief executive as major lenders sign off on the company's debt restructuring plan for a $1.25 billion loan, sources said on Thursday.
Dubai International Capital's chief investment officer David Smoot will replace Anand Krishnan as CEO, two sources familiar with the matter told Reuters.
One of the sources said the core committee of lenders agreed to the offer of two percent interest and repayment over six years on a $1.25 billion loan that was due in June after negotiations over the terms of the debt restructuring.
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