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Dubai ruler's firm seeks debt repayment extension

Dubai ruler's firm seeks debt repayment extension

An investment company controlled by Dubai's ruler says it is seeking a three-month extension on repaying some of its debt.
Dubai International Capital said in a brief e-mailed statement on Thursday that it is seeking an extension "of certain maturities" to September 30. It did not say how much debt was involved.
The firm says the extension would give it time to put a "consensual longer term plan" in place to "maximize the value of its business."
Officials did not immediately return requests for further comment.