Deals
Dubai Accelerates Asset Sales as $30 Billion Debt Wall Looms
This article is for subscribers only.
Dubai, which teetered on the brink of default in 2009, is accelerating asset sales as more than $30 billion of debt repayments come due next year.
Dubai Financial Group yesterday agreed to sell its stake in consumer lender Dubai First to First Gulf Bank PJSC for 601 million dirhams ($163 million). Dubai Holding LLC plans to sell its 35 percent stake in Tunisie Telecom, the country’s ministry for information and communication technologies, said June 21.