DIC in $2.4bn debt restructuring

Dubai International Capital (DIC), a unit of Dubai Holding, has agreed the terms for a $2.4 billion debt restructuring with its creditors, two sources familiar with the situation said on Thursday.

"I can confirm that the DIC restructuring has been agreed," a spokeswoman for DIC said.

DIC's assets include UK hotel chain Travelodge, Doncasters and European aluminium maker Almatis Holdings BV.