Dubai Group to sell stake in Shuaa and other assets to help it repay creditors
Dubai Group is in the process of selling its stake in Shuaa Capital and is also obliged to divest its holdings in EFG Hermes and Bank Muscat this year. Dubai Group completed a drawn-out restructuring of its USD10bn debt pile in January 2014, with banks extending repayment deadlines on loans so that the group could be given time to sell its assets to raise cash needed to fund the payments. (Reuters)
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