debt restructuring

Dubai World Reaches Deal to Restructure $24.9 Billion of Liabilities

Dubai World, the state-owned conglomerate, reached a deal to restructure about $24.9 billion of liabilities. Dubai%u2019s government said that Dubai World reached an agreement with more than 99% of its creditors, Reuters reported. In a separate statement, Dubai World said it plans to close the restructuring in "the coming weeks."