Mon, Dec 22, 2014
A A A
Welcome preal121
RSS

Sovereign Wealth Funds Briefing - Categorized | Investment, Market

Arnotts snubs EUR100mln Kuwaiti wealth fund

Posted on 15 October 2012

Arnotts’ bankers knocked back a bid from Kuwait’s prestigious national sovereign wealth fund, according to A/Wear owner Michael Flacks. The Kuwait Investment Authority (KIA) offer was one of two which Flacks said he brought to the table in a bid for the iconic department store. The other was on behalf of an American investment bank, which Flacks wouldn’t name.
Both the KIA and the US investment house gave commitment letters offering between €75m and €100m “to buy the buildings and the business,” Flacks said. “We’ve shown the money, both times we were refused,” he said. “They think they can do better, even though they’re not making enough money,” he added………………………………………..Full Article: Source


 Article link

This post was written by:

VRS - who has written 15434 posts on Opalesque Sovereign Wealth Funds Briefing.


Contact the author

Comments are closed.

banner
banner
December 2014
M T W T F S S
« Nov    
1234567
891011121314
15161718192021
22232425262728
293031