Reply #40: Dubai investment fund takes 'substantial' stake in Sony

[Renew Deal]

By Peter Sayer, IDG News Service
November 26, 2007

Sony purchase follows the recent Abu Dabai investment in AMD -- signs of Middle Eastern investors' growing interest in technology

Dubai International Capital has bought a "substantial" stake in Sony, another sign of Middle Eastern investors' growing interest in technology.

The investment, announced Monday, is also a vote of confidence for Sony, which is going through a major restructuring. Dubai International Capital (DIC) expects its investment to grow in the medium term as Sony applies its brand and product design skills to emerging technologies, it said.

DIC did not disclose the amount of the investment, its first in Japan. The fund through which it was made, Global Strategic Equities Fund, manages assets of around $2 billion. Its recent acquisitions include a 3.12 percent stake, worth around $837 million, in European aircraft manufacturer EADS.

Shares in Sony rose 4.6 percent on the Tokyo stock exchange Monday on news of the Dubai investment, although Sony representatives reached in Europe were unable to confirm the news.
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http://www.infoworld.com/article/07/11/26/Dubai-investment-fund-takes-stake-in-Sony_1.html