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Sovereign Wealth Funds Briefing - Categorized | Investment, Market

DIC unscrews KEF for $178mln

Posted on 24 March 2011

Dubai International Capital (DIC) has sold its 45 per cent stake in KEF Holdings, a valve and casing manufacturer based in the United Arab Emirates. As the international investment arm of Dubai Holdings, the Middle Eastern emirate’s sovereign wealth fund, DIC is 99.7 per cent owned by Mohammed bin Rashid Al Maktoum, the ruler of Dubai.
The fund picked up the stake in 2008 for $126m and is now selling it for $178m, alongside a partial exit by the company’s founder Faizal Kottikollon……………………………………….Full Article: Source


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