Wed, Aug 20, 2014
A A A
Welcome sandeep.kottawar@wns.com
RSS

Sovereign Wealth Funds Briefing - Categorized | Investment

Dubai buys stake in luxury hotel manager Kerzner

Posted on 04 April 2014

Investment Corp of Dubai (ICD), the emirate’s sovereign wealth fund, has bought a stake in global hotel management firm Kerzner International KZL.UL from investors including the family of South African casino tycoon Sol Kerzner. The deal gives Dubai, which depends heavily on its booming tourism industry, control of a second major luxury hotel firm. The first firm, Jumeirah Group, is owned by Dubai’s ruler.
“This investment reaffirms ICD’s commitment to support the long-term growth of our domestic hospitality market, a key pillar of and growth sector for the Dubai economy,” ICD’s chief executive Mohammed al-Shaibani said in a statement on Thursday………………………………….Full Article: Source


 Article link

This post was written by:

VRS - who has written 14601 posts on Opalesque Sovereign Wealth Funds Briefing.


Contact the author

Comments are closed.

August 2014
M T W T F S S
« Jul    
 123
45678910
11121314151617
18192021222324
25262728293031