| Dubai International Capital | |
|---|---|
 |
|
| Type | Subsidiary (International investment arm) |
| Founded | October 2004 |
| Headquarters | Dubai,  United Arab Emirates |
| Key people | Sheikh Mohammed bin Rashid Al Maktoum, Founder Sameer Al Ansari, Chairman & CEO Anand Krishnan, COO |
| Industry | Diversified Investments |
| Website | www.dubaiic.com |
Dubai International Capital (DIC) was established in October 2004 as the international investment arm of Dubai Holding. DIC, while focused on the private equity asset class, operates through three divisions:
- Global Buy-Outs: Focused on secondary LBOs, primarily in Europe, but also in North America and Asia
- MENA Investments: Manages a broad investment program across the Middle East & North Africa region, including LBOs, funds and co-investments, infrastructure, growth and development capital
- Public Equities: Focused on investment in publicly quoted company through its DFSA regulated US$ 2 billion Global Strategic Equities Fund, by acquiring leveraged stakes in mega class companies.
The purpose of DIC is to create a return for its shareholder, Dubai Holding and its ultimate shareholders, the Ruling Family of the Emirate of Dubai. It is not as commonly thought an investment arm of the Government of Dubai.
Contents |
Holdings
DIC's investments across its divisions include: Global Buy-Outs:
- The Tussauds Group - purchased in 2005 from Charterhouse Capital Partners for £800 million pounds ($1.5 billion). Subsequently sold in March 2007 to Merlin Entertainments for £1.03bn, though DIC now has a 20% in the combined company[1].
- Doncasters Group Ltd - On 2 March, 2006, The Washington Post reported that DIC plans to buy Doncasters Group Ltd., a British precision-engineering company with plants in Connecticut and Georgia that make precision parts used in engines for military aircraft and tanks. The company said in a statement it is confident the U.S. government will approve its $1.2 billion offer. It said it was pursuing all U.S. regulatory approvals "as is customary for international business transactions of this nature."[2]. The acquisition was completed on 7 May, 2006
- Travelodge - purchased the UK budget hotel group in 2006 for £675m (1.02bn euros). Now the fastest expanding hotel chain in the Europe[3]
- Mauser Group - purchased the German industrial packaging company in June 2007 for Eur 850m - one of the world's leading specialist packaging firms.
Financial services:
- Marfin Greek bank in which DIG has a majority stake
- Bank Islam DIG has bought Bank Islam and it is developing its own Islamic bank[4]
MENA Investments:
- Jordan Dubai Capital: A US$300 million private equity fund dedicated to investments in Jordan, launched in 2005.
- Ishraq: A US$ 150 million investment company focused on delivering the budget hotel concept across the Middle East, established in 2005.
- MENA Infrastructure Fund: Launched the US$500 million MENA Infrastructure as co-Anchor with HSBC in 2006.
- Rivoli Group: DIC is rumoured to have acquired a substantial stake in the UAE-based luxury goods retailer.
Public Equities:
- Daimler AG - acquired a 2% stake for $1 billion in German carmaker Daimler, making it the company's third largest shareholder in 2005.
- HSBC Holdings Plc: acquired a substantial stake in the world's leading bank group in 2007.
- EADS: acquired a 3.12% stake for $838 million in Europe's largest aircraft and defense manufacturer and Airbus parent company.[5]
- Mauser - acquired a stake for $1 billion
- Sony - acquired a 3% stake for $1.5 billion
Leadership Team
- Sameer Al Ansari - Executive Chairman & Chief Executive Officer
- Anand Krishnan - Chief Operating Officer
- Sylvain Denis - Head of Direct Investments
- Alan Hyslop - Head of Funds & Co-Investments
- Rabih Khoury - Head of MENA Investments
- Andrew Wright - Head of Legal
- Peter Jansenberger - Vice President, Direct Investments
- Maissan Al Maskati - Vice President, Direct Investments
- Hadi Badri - Vice President, MENA Investments
Failed purchases
- Liverpool F.C. - on 3 December, 2006 DIC and English Premier League side Liverpool F.C. revealed that DIC were in exclusive negotiations to potentially buy the football club. Liverpool F.C. had been exploring options of investment in the club for some time after holding talks with a number of interested parties. DIC chief Sameer al-Ansari confirmed they were in talks with Liverpool officials regarding an investment: "Liverpool's investment requirements are well publicised. We hope we can agree a deal that will provide us with the opportunity to fund its needs both on and off the pitch," DIC chief executive Sameer al-Ansari told Bloomberg.com[6]. DIC later pulled out of a takeover bid with Liverpool F.C after they tried to force Liverpool to come to a decision while the Liverpool board were considering an offer made by American tycoons, George Gillett and Tom Hicks, which they later accepted. However on 22nd December 2007, it was reported by a number of papers that Dubai International Capital may buy the shares of Gillect and Hicks as they continue to struggle to finance the club.[1][2][3]
References
- ^ http://news.bbc.co.uk/1/hi/business/6419019.stm
- ^ http://news.yahoo.com/s/ap/20060302/ap_on_bi_ge/ports_security
- ^ http://news.bbc.co.uk/1/hi/business/5265438.stm
- ^ "DIC looks to spread its investment wings, Euromoney April 2007"
- ^ John, Issac. "Dubai Int'l Capital buys 3.12pc stake in EADS" , Khaleej Times Online , 2007-07-06.
- ^ http://news.bbc.co.uk/sport1/hi/football/teams/l/liverpool/6205386.stm
