Dubai World agrees restructuring with largest creditors | GulfNews.com

Dubai World agrees restructuring with largest creditors | GulfNews.com:



"Dubai World’s biggest creditors have agreed a deal with the state-owned conglomerate to renegotiate its debt repayment schedule, one of Dubai’s top government officials said on Wednesday.



However, Shaikh Ahmad Bin Saeed Al Maktoum, President of Dubai Civil Aviation and Chairman and CEO of Emirates airline and Group in his capacity as chairman of Dubai’s Supreme Fiscal Committee, also denied that some of the emirate’s most high-profile state-owned companies, such as Emirates airline, could join a rush of initial public offerings being planned in the coming months.



Strong demand for a $1.58 billion (Dh5.8 billion) IPO of Emaar Properties’ malls unit last month shows confidence running through Dubai’s economy thanks to increased revenue from travel and tourism and a recovery from a property crash and debt crisis at state-linked companies."



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