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Zabeel Investments reaches debt deal with lenders
- United Arab Emirates: Sunday, October 07 - 2012 at 09:28
Dubai's troubled Zabeel Investments has reached a $956 million debt deal with lenders, Alkhaleej Arabic daily has reported, citing an unnamed senior banking source. Zabeel, which has hospitality, property and private equity assets, owes around Dhs6bn to mostly local banks. Last month, Abu Dhabi Commercial Bank filed a legal claim for $107.13m against Zabeel, saying it failed to meet repayment obligations.
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