Dubai fund DIC expects Doncasters, Almatis sales in 18 months: CEO | Reuters:
"Dubai International Capital (DIC) should complete the sale of the two main assets remaining in its portfolio within 18 months, which will provide it with cash to cover its outstanding debt well ahead of scheduled repayment in two years.
Proceeds from the divestment of the five remaining assets should also give the private equity firm surplus funds to pass to its parent firm, Dubai Holding, to help finance its ambitious projects in the emirate, chief executive David Smoot said.
Part of the investment vehicle of Dubai's ruler, Sheikh Mohammed bin Rashid al-Maktoum, DIC rose to prominence in the mid-2000s as it took stakes in global brands including Daimler and Sony, and at one point was heavily linked with a takeover of one of England's biggest soccer clubs, Liverpool FC."
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