View all newsletters
Receive our newsletter - data, insights and analysis delivered to you
November 30, 2009

Dubai World Debt Restructuring Impacts DP Expansion Plans

Troubled global conglomerate Dubai World's $59bn debt restructuring plan could impact the terminal expansion plan of DP World, it has been revealed. Dubai World, which owns 77% of DP World, said the latter will be excluded from its debt-standstill talks and restructuring. Acc

By cms admin

Troubled global conglomerate Dubai World’s $59bn debt restructuring plan could impact the terminal expansion plan of DP World, it has been revealed.

Dubai World, which owns 77% of DP World, said the latter will be excluded from its debt-standstill talks and restructuring.

According to maritime experts, debt liabilities could cast a shadow on the terminal operator’s source of financing.

In a statement, DP World said the government of Dubai has confirmed that DP World and its debt are not included in the restructuring process for Dubai World announced earlier.

The government said it will restructure Dubai World and will seek a six-month standstill with its debts, including a $3.52bn Islamic bond issued by its subsidiary Nakheel.

Related Companies

NEWSLETTER Sign up Tick the boxes of the newsletters you would like to receive. The top stories of the day delivered to you every weekday. A weekly roundup of the latest news and analysis, sent every Friday. The industry's most comprehensive news and information delivered every month.
I consent to GlobalData UK Limited collecting my details provided via this form in accordance with the Privacy Policy
SUBSCRIBED

THANK YOU

Thank you for subscribing to Ship Technology