Diversified Financial Services
Company Overview of Dubai Group
Dubai Group, a diversified financial services company, engages in banking, investment, and insurance businesses in the Middle East, North Africa, the European Union, North America, South East Asia, China, and the Indian subcontinent, as well as Central, East, and South Africa. It operates private banks in Dubai, Bahrain, and Pakistan to provide wealth management solutions to high-net-worth individuals and institutional investors; investments in halal living, healthcare, hospitality, and other investments sectors; and a private brokerage company. The company also operates a real estate asset management company that provides investment sourcing and origination, underwriting and financial analy...
Sheikh Zayed Road
P.O. Box 213311
United Arab Emirates
Founded in 2000
Key Executives for Dubai Group
Acting Chief Executive Officer and Chairman of Dubai Bank
Acting Chief Executive Officer of Dubai Financial Group
Chief Executive Officer of Dubai Bank and Banking Group
Compensation as of Fiscal Year 2013.
Dubai Group Key Developments
Dubai Group Aims to Close $10 Billion Debt Deal by June 06, 2013
May 8 13
Dubai Group announced that it aims to secure a final agreement with creditors on its $10 billion debt restructuring by June 6, potentially ending marathon negotiations that have dragged on nearly three years. Since it missed interest payments on two loan facilities in 2010, it has been locked in talks with its lenders to extend repayment deadlines. Of Dubai Group's $10 billion total debt, $6 billion is owed to banks and the remaining $4 billion is classed as inter-company loans. Under the terms of Dubai Group's restructuring, creditors are being asked to extend their obligations for between 3.5 and 12 years, depending on the assets secured against their exposure, to allow Dubai Group's assets to recover in value before divestment. For unsecured creditors, who have been offered a 12-year extension, there is an option to be repaid after five years, albeit at a discount.
Dubai Group to Close Restructuring Debt
Feb 5 13
Dubai Group announced that it may be close to restructuring $6 billion of debt after a group of creditors opted for a full repayment over 12 years, spurning an offer accepted earlier by Royal Bank of Scotland Group Plc, Standard Bank Group Ltd. and Commerzbank AG, Bloomberg News reported Feb. 4.
Dubai Group Settles Lawsuit over Debt Deal
Jan 11 13
Dubai Group 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. Royal Bank of Scotland, Commerzbank and South Africa's Standard Bank, later joined by Egypt's Commercial International Bank, began court moves in September after nearly two years of talks on reorganising the company's obligations failed to yield an agreement. Under terms presented to the banks in December, Dubai Group's parent Dubai Holding, the investment arm of Sheikh Mohammed bin Rashid al-Maktoum, will buy out their debt plus that of any others in the same syndicate of lenders wishing to exit early for 18.5 cents in the dollar. The deal is conditional on all lenders in the group which lent Dubai Group a $1.5 billion sharia-compliant loan facility in 2008 agreeing either to sign up to the wider restructuring or exit now.
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