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Dubai Investments divests 40% stake in M'Sharie
- United Arab Emirates: Wednesday, September 24 - 2008 at 08:02
Dubai Investments has divested 40% of its shareholding in M'Sharie, its private equity arm, via a private placement targeted towards selected strategic investors across the GCC. The private placement was oversubscribed by more than 100%. Valued at Dhs1bn ($272m), M'Sharie holds ownership interest in 16 companies operating in diversified businesses, of which 14 are fully-owned subsidiaries and two are joint venture affiliates. The divestment of M'Sharie will allow Dubai Investments to raise capital of Dhs400m, according to a press statement.
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Jeff Florian, Senior ReporterWednesday, September 24 - 2008 at 08:02 UAE local time (GMT+4)
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