Dubai Group Won’t Get Government Support, Alrroya Says
By Tamara Walid -
2012-02-06T05:36:07Z
(Corrects dollar amount.)
Dubai Group LLC told creditors there will be no government support in repaying debt after they requested 2 billion dirhams ($540 million) in government backing, Alrroya reported today, citing an unidentified chief executive officer of one of the lending banks.
The company, controlled by Dubai Holding LLC, plans to present a debt settlement deal to creditors by the end of February, according to the newspaper.
To contact the reporter on this story: Tamara Walid in Dubai at twalid@bloomberg.net
To contact the editor responsible for this story: Inal Ersan at iersan@bloomberg.net
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