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Saturday 21 November 2009 (UAE)
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Dubai International Capital LLC (DIC)
Dubai International Capital restructuring
Dubai International Capital merged with Dubai Group, another DH member, in February 2009 to form Dubai Holding Investment Group (DHIG), according to an announcement by Dubai Holding. Sameer Al Ansari, the executive chairman of DIC, would become joint chairman of DHIG.
Dubai International Capital prior to merger with Dubai Group
- Dubai International Capital was established in 2004 as an investment subsidiary of Dubai Holding - a government holding company incorporating a number of organisations involved in the economy of Dubai. DIC's goal is to make a diversified range of international investments.
- CEO Sameer Al Ansari. Chairman Mohammed Al Gergawi (also CEO of Dubai Holding).
- CEO said in June 2005 that DIC was planning to spend US$3 billion to US$5 billion per year over the next five years.
- Note that DIC is also the symbol on the Dubai Financial Market for Dubai Investments PJSC - a publicly listed investment company, but not related to Dubai International Capital.
DIC projects and investments
- November 2006 - announces intention to invest AED18 billion ($5 billion) in large worldwide listed companies via a new fund to be named the Global Strategic Equities Fund. Investors in the fund will include ADIA (Abu Dhabi Investment Authority), QIA (Qatar Investment Authority) other Gulf investors and possibly Temasak (Singapore) and Government of Brunei. Assets under management expected to increase to AED 73 billion ($20 billion) by 2009.
- August 2006 - buys UK based Travelodge for AED 4.7 billion from Permira.
- May 2006 - acquisition of UK based Doncaster Group for AED 4.5 billion. The deal was scrutinized closely by the US in the wake of the Dubai Ports World controversy over their purchase of the UK's P & O in March 2006.
- October 2005 - announces 47% (AED 550 million) stake in Ishraq - a company set up to finance 20 Holiday Inn Express hotels throughout the GCC.
- Jordan Dubai Capital - AED 1 billion investment company looking at investments in Jordan.
- June 2005 - was negotiating purchase of Legoland (part of a Danish toy company). Legoland was eventually sold to Blackstone Group of New York in July 2005.
- March 2005 - agreement for AED 5 billion purchase of the Tussauds Group in the UK.
- January 2005 - AED 3.7 billion investment in DaimlerChrysler (buying 2% of their shares to become the third largest shareholder).
- November 2004 - signs investment cooperation agreement with Sinosure (a state owned official export credit insurance agency based in Beijing, China).
- July 2004 - announces Dubai Yachting - development of a large marina and Yachting Academy in Dubai, also purchase of 50 yachts.
This information last updated Friday 01-May-2009
Related pages - Internal Links
- Dubai - FAQ home and index
- Dubai Holding - A Dubai government company, DIC is a subsidiary
Related websites - External Links (open in new window)
- www.dubaiic.com - Dubai International Capital website - forwards to www.dubaiholdinginvestmentgroup.com (checked March 2009)
- www.dicapital.com - not DIC website (is spam)
- Dubai directory - add your link free