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Dubai Holding obtains $1.26bn financing from Morgan Stanley

Dubai Holding today announced it has obtained financing of $1.26bn from Morgan Stanley, one of the world's leading investment banks, on a fully underwritten basis.

United Arab Emirates: Tuesday, November 06 - 2007 at 16:28
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The facility has been provided, in the form of a short-term bridge loan, to the Dubai Holding Investments Group, the investment arm of Dubai Holding.

It is anticipated that the proceeds of the loan will be used in part, to fund its 100 per cent owned subsidiary Dubai International Capital's (DIC) acquisition of a 9.9 per cent stake in US alternative asset management firm, Och Ziff, upon completion of its initial public offering.

In addition to its role as finance provider for the bridge facility, Morgan Stanley acted as financial advisor to Dubai Holding.

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ABOUT DUBAI HOLDING
Dubai Holding was launched to consolidate the various large scale real estate, infrastructure and investment projects in Dubai that were created over the past five years as well as research, identify and execute future major projects that will benefit the UAE and the region.

The company has been created with the goal of providing a better future for all - across the range of life-improving industries it is involved in. Each of the Dubai Holding operating companies focuses on key areas which will dynamically support the development of Dubai as a world leading hub for commerce, leisure and finance, in turn driving these companies to become leaders in their respective fields in the Middle East and beyond.

Dubai Holding currently has over 100 companies operating in a variety of sectors ranging from health, technology, finance, real estate, research, education, tourism, energy, communication, industrial manufacturing, biotechnology and hospitality.

These companies include: Dubai Internet City, Dubai Media City, Dubai Healthcare City, Dubailand, Dubai International Capital, Dubai Industrial City, Dubai Properties, Dubai International Properties, Dubai Investment Group, Dubai Energy, Dubai Knowledge Village, Dubai Outsource Zone, International Media Production Zone, E-Hosting Datafort, Empower, SamaCom, Jumeirah Group, Dubiotech and Dubai Studio City.

Posted by Lara Lynn Golden, News Editor
Tuesday, November 06 - 2007 at 16:28 UAE local time (GMT+4)

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