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Dubai World Opens Talks with Small Creditors: Report - ASHARQ AL-AWSAT English Archive
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DUBAI (Reuters) – Troubled conglomerate Dubai World has begun talks with small creditors, not included in the coordination committee of banks on its restructuring plan, to avoid any lawsuits, a UAE newspaper said on Sunday.

The company, which has $14.4 billion in outstanding bank debt that it said it will be able to repay, has started negotiations with the smaller group after lending banks approved its restructuring plan, Arabic daily Al Ittihad said, citing banking sources familiar with the matter.

Dubai World is prepared to sell prized assets, including ports firm DP World, in a bid to raise as much as $19.4 billion to repay creditors, a document obtained by Reuters showed on Wednesday.

Asharq Al-Awsat

Asharq Al-Awsat

Asharq Al-Awsat is the world’s premier pan-Arab daily newspaper, printed simultaneously each day on four continents in 14 cities. Launched in London in 1978, Asharq Al-Awsat has established itself as the decisive publication on pan-Arab and international affairs, offering its readers in-depth analysis and exclusive editorials, as well as the most comprehensive coverage of the entire Arab world.

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