ID :
94000
Wed, 12/09/2009 - 15:14
Auther :
Shortlink :
https://oananews.org//node/94000
The shortlink copeid
Drydocks not part of Dubai World's proposed restructuring
Dubai, Dec 9, 2009 (WAM) - Dubai World group announced yesterday that its subsidiary Drydocks World would not be part of its expected restructuring programme.
“Following further review, Drydocks World and its subsidiaries will not be included in the proposed restructuring process for Dubai World and its real estate-related subsidiaries," Dubai World said in a statement. Drydocks World had been in "constructive" dialogue with its lenders for several months and the firm continued to have "sufficient financial capacity to service its debt," the group added. Drydocks World continues to have sufficient financial capacity to service its debt and remains well positioned to take advantage of the expected improvements in the ship building and offshore industries in the coming years," Dubai World said.
“Following further review, Drydocks World and its subsidiaries will not be included in the proposed restructuring process for Dubai World and its real estate-related subsidiaries," Dubai World said in a statement. Drydocks World had been in "constructive" dialogue with its lenders for several months and the firm continued to have "sufficient financial capacity to service its debt," the group added. Drydocks World continues to have sufficient financial capacity to service its debt and remains well positioned to take advantage of the expected improvements in the ship building and offshore industries in the coming years," Dubai World said.
