Dubai World, the state-owned holding company that’s restructuring about US$25 billion of debt, is in “a new phase of growth,” Chairman Sheikh Ahmed Bin Saeed Al Maktoum said.
“We look forward to a brighter future based on solid financials,” Sheikh Ahmed told a meeting of 600 managers from its business units in Dubai yesterday, according to a company statement.
Dubai World’s units include DP World Ltd. (DPW), the world’s fourth-biggest port operator, ship repair company Drydocks World LLC and private-equity investor Istithmar World PJSC. Sheikh Ahmed replaced Sultan Ahmed bin Sulayem as Dubai World chairman in December.
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