Istithmar to buy stakes in African airline and a top bank for $900m

Dubai: Dubai investment firm Istithmar is set to acquire a majority stake in an airline in Africa and will invest in a leading bank in transactions valued at about $900 million.
Istithmar is looking at having the majority stake in the airline, Istithmar vice-chairman Khalid Al Kamda told Gulf News.
Istithmar, which in October last year bought a 2.7 per cent stake in Standard Chartered Bank for $1 billion, will be a co-investor in the planned acquisition of a major bank.
"There are transactions under discussion in the real estate, hospitality, leisure, consumer and finance sectors. We are looking at South America, Europe, the Gulf region, Pakistan, Vietnam, China, India, Singapore, Thailand," he said.
The company announced a string of investments last month.
It bought a three per cent stake in London-based hedge fund GLG Partners, which has more than $20 billion in assets under management.
04/07/07 Shakir Husain/Gulf News, United Arab Emirates

To Read the News in full at Source, Click the Headline

Categories: Foreign Jul 2007