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Dubai Group creditors to own equity stake post-$10 billion deal

DUBAI (Reuters) - Dubai Group will be spun off as an independent company with creditors owning an equity stake after its planned $10 billion debt restructuring, the chief executive of parent Dubai Holding said in an interview on Thursday. Dubai Group, a unit of Dubai Holding, the investment arm of the emirate's ruler Sheikh Mohammed bin Rashid al-Maktoum, expects to sign an agreement with its creditors on the debt restructuring in six weeks, Ahmad Bin Byat said.

Dubai Group settles lawsuit on way to wider $10 bln debt deal

By David French DUBAI, Jan 11 (Reuters) - Dubai Group, a struggling unit of the ruler of Dubai's personal investment firm, has settled with banks who brought legal action against it to secure repayment of their share of $10 billion of debt, raising hopes a wider restructuring can now go ahead.
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