DUBAI (Reuters) - State-owned conglomerate Dubai World <DBWLD.UL> has come to a formal agreement with over 99 percent of its creditors to restructure around $24.9 billion of liabilities, the government of Dubai said on Friday.

"The government of Dubai remains a supportive and committed shareholder," it said in the statement.

"The government of Dubai continues to focus on Nakheel and is pleased with the significant progress achieved by the company to date in discussions with its creditors," it added.

In a separate statement Dubai World said it is well-positioned to close the restructuring in coming weeks.