Thursday, 4 October 2012

Dubai's Zabeel Investments in $956 mln bank debt deal - report | Reuters

Indebted Zabeel Investments, which is owned by Dubai's crown prince, has reached a $956-million debt deal with lenders, according to al-Khaleej newspaper on Thursday.

The Arabic-language daily, citing an unnamed senior banking source, did not give further details on the agreement which it said was for more than 3.5 billion UAE dirhams ($952.90 million) in bank debt.

"Zabeel Investments has succeeded in settling its debt," the newspaper quoted the source as saying.

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