| Last week’s transaction between Investment Corporation of Dubai (ICD) and Kerzner International is a transformational deal on multiple levels. ICD, under its chief executive Mohammed Al Shaibani, bought about 46 per cent of the company that controls the international up-market hotel group.
The global operations of the Atlantis and One & Only chains, as well as the Mazagan beach resort in Morocco, thus fall under the control of Dubai. With another significant shareholding in Kerzner, about 25 per cent, held by Istithmar World, a subsidiary of Dubai World, the emirate becomes the majority shareholder in one of the biggest and most luxurious hotel operators in the world...............................................Full Article: Source
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