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Business Briefing / Real Estate

MGM, Deutsche talks said to fail

March 06, 2009|Times Wire Reports

MGM Mirage and Dubai World failed to reach agreement with Deutsche Bank and talks on a $1.2-billion loan to complete the Las Vegas CityCenter project collapsed, according to five people with knowledge of the matter.

Deutsche Bank was seeking equity and debt stakes in the $11.2-billion development on the Las Vegas Strip in return for the loan. MGM Mirage and Dubai World are now holding talks with other parties, one of the people said.

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