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Zabeel in talks to restructure debt

Dubai-based holding firm Zabeel Investments is in talks with its creditors to restructure around Dhs6bn ($1.63bn) of debt, The National has reported, citing financial sources. The company is discussing extending debt maturities, as well as asset sales and a potential injection of capital. Emirates NBD, Union National Bank and Commercial Bank of Dubai are among the local creditors to the firm, while HSBC is the sole international bank involved with the discussion, the sources told the daily.