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Nakheel buys into Mirvac
- United Arab Emirates: Saturday, December 22 - 2007 at 08:01
Nakheel has bought a 6.5% stake in Australian real estate group Mirvac as part of its international expansion plans, reported Reuters. The Dubai World subsidiary did not say how much it has paid for the stake but it was worth around $347m at Friday's closing prices. Mirvac is developing homes in Australia and also operates hotels in Australia, New Zealand and on several Pacific Islands.
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Jonathan Sheikh-Miller, Deputy EditorSaturday, December 22 - 2007 at 08:01 UAE local time (GMT+4)
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