DubaiBeat.com

Irish oil and gas firm acquired by Emirates National Oil Company

Wed, 11 Nov 2009 20:03:13 +0400

Dragon Oil, the London listed Irish oil and gas company has agreed to a full takeover by shareholder Emirates National Oil Company.

Emirates National Oil Company already holds 51.5% of Dragon Oil, having first acquired a stake in 1998. This purchase values the Irish gas-and-oil exploration and development firm at around $3.9 billion. Dragon Oil is a single-asset company and develops the Cheleken contract area in the Caspian Sea, offshore Turkmenistan. Read more on the MarketWatch.

Japan seeks investment from UAE sovereign wealth funds

Mon, 09 Nov 2009 20:17:52 +0400

Japan is actively wooing the UAE sovereign wealth funds (SWF) in an aim to beef up its foreign direct investment from three per cent to five per cent by next year.

A senior official from Japan External Trade Organisation (Jetro), the state-backed trade and inward investment promotion agency, said the UAE was selected as one of the three most favoured emerging economies to attain the goal. The other two are Sao Paolo and Moscow. "Jetro has conducted seminars to explain the Japanese investment opportunities to SWF people in the UAE such as Adia, Adic, Mubadala and others. And we continue the efforts to attract SWF to the Japanese markets," Kuniyasu Funaki, CEO of Jetro Dubai and Mena, told Emirates Business. Read more.

Abu Dhabi company to invest in German shipbuilding firm

Sun, 08 Nov 2009 19:16:59 +0400

Abu Dhabi MAR, a holding company based in Abu Dhabi, has entered into a strategic partnership with the German company ThyssenKrupp Marine Systems.

The partnership involves the establishment of a 50:50 joint venture for the construction of naval surface ships. In addition, the agreement will allow Abu Dhabi MAR Group to move into the mega-yachts, repairs and ships' components businesses. To this end Abu Dhabi MAR Group plans to acquire a majority 80% stake in each of the companies Blohm + Voss Shipyards, Blohm + Voss Repair, and Blohm + Voss Industries. In the mega-yacht sector, this opens up good prospects for expanding the clientele for this exclusive product.

(Abu Dhabi MAR Group is an international shipbuilding group. The group has the capacity of building civilian ships up to 200 meters as well as military and commercial vessels. The group is jointly owned by Al Ain International Group (70%) and Privinvest (30%). Mr. Iskandar Safa is the Managing Director of Abu Dhabi MAR Group. Abu Dhabi MAR Group’s order book exceeds 1 billion Euros. The shipbuilding group employs 2,000 people globally.)

Their full press release follows:

Presentation - New Insights into Sovereign Wealth Funds

Sat, 07 Nov 2009 18:01:55 +0400

As you know, Super Return MENA 2009 summit was held in Dubai in October and DubaiBeat.com was an official partner for this event.

Following is the presentation by Josh Lerner, Professor of Harvard Business School. The presentation is titled "New Insights into Sovereign Wealth Funds: Clues and Mysteries".

Latin American Funds Look To Middle East For New Investors

Fri, 06 Nov 2009 11:08:22 +0400

With investors pulling out of funds as they look to liquidate their assets, Latin American hedge fund managers are actively seeking new sources for potential clients. And Middle East investors are on top of the list.

Alternative Latin Investor, a publication covering alternative investments in Latin America, has been speaking with several Fund managers based in the Middle East to find how their Latin counterparts can attract valuable new clients in the region. Read the full story here.

UAE private equity firm setting up a new $2 billion fund

Thu, 05 Nov 2009 19:35:22 +0400

Abraaj Capital, the largest private equity group outside North America and Europe, is setting up a new fund worth at least $2 billion to exploit attractive valuations, its managing director Mustafa Abdel-Wadood told the Reuters Middle East Investment Summit - an online interview series by Reuters.

The firm which has raised about $7 billion since inception in 2002 and manages about $6 billion, is also in advanced talks to invest in a logistics firm. Read the full details on Reuters

Middle East investors investing $4.6 billion in Scotland

Wed, 04 Nov 2009 21:30:20 +0400

MEED, the Middle East business intelligence provider, is estimating that investors from the Middle East either hold or are planning investments in Scotland worth about $4.6 billion, about 10 per cent of the total foreign investment in Scotland.

International investors, including Gulf companies and funds, are attracted to Scotland by its reputation for high-quality produce, innovation and technology - the MEED is reporting. (It also tells the story of Mahdi al-Tajir, the richest man in Scotland in 2009, who set up one of Scotland’s most iconic brands, the Highland Spring bottled water company, in 1979 now worth $834 million).

Abu Dhabi invested in California-based private jet firm

Tue, 03 Nov 2009 20:29:20 +0400

XOJET, a private aviation company based in California, announced financing totaling $470 million led by TPG, a private equity firm, and Aabar, an Abu Dhabi based investment firm.

This consists of $100 million in equity and a more flexible debt facility of $370 million that allows for the purchase of either new or used aircraft on a global basis. So far they have raised $3 billion to fund their operational infrastructure, fleet, and global expansion.

(To see more Abu Dhabi investors like Aabar check our investors directory)

Their full press release follows

Qatar firm launched $200 million film fund

Sun, 01 Nov 2009 20:02:04 +0400

Alnoor Holdings, a Qatari media group, yesterday launched a $200 million fund to finance and produce up to 15 features for the international market in the next five years.

The Fund intends to take advantage of the challenging conditions in the capital markets and the film industry to invest in high quality film projects involving Hollywood talent generating the best potential returns. Alnoor Holdings will invest $40 million into the fund directly, with the remaining coming from private investors across the Gulf region - Variety is reporting.

Their full press release follows

Presentation - How quickly can the GCC emerge from the slowdown

Fri, 30 Oct 2009 18:02:09 +0400

Following is the presentation by Ali Al Shihabi, Founder and Executive Chairman of Rasmala, at the Super Return conference in Dubai October 2009.

Abu Dhabi investment firm plans $1 billion acquisitions - WSJ

Tue, 27 Oct 2009 15:38:20 +0400

Waha Capital, the Abu Dhabi based investment firm, is looking at acquisitions of up to $1 billion in the maritime, financial and leasing services sectors, according to the Wall Street Journal and Emirates Business.

"From the maritime side, we are interested in a regional player, financial services would be regional and leasing would be global," said Noaimi. He declined to elaborate.

Waha is also working on two structured finance deals for the UAE's armed forces, said Noaimi, declining to give further details. He said that the company's short-term funding was "fine".

"Silicon Valley of Dubai" to set up its Venture Capital fund

Mon, 26 Oct 2009 15:06:15 +0400

Dubai Silicon Oasis, a technology free zone in Dubai, plans to launch it venture capital fund by second quarter of 2010 targeting technology and telecom startup companies, according to UAE newspaper Emirates Business.

"The five-point agenda is to convert DSOA as the silicon valley of the region mainly targeting universities, establishing R&D centres, hiring engineers to design products, incubate startup companies and create a VC fund for the region by also inviting other VC fund companies to set up offices in DSOA premises", Ray Milhem, Chief Technology Officer, Technology Investment at DSOA told Emirates Business. Read the details here.

Presentation - Deal Flow and Dry Powder in the Region

Sun, 25 Oct 2009 18:02:06 +0400

Following is the presentation by Imad Ghandour, Executive Director of Gulf Capital at the Super Return conference in Dubai October 2009.

Abu Dhabi investment firm launches $400 million private equity fund

Sat, 24 Oct 2009 15:24:17 +0400

Invest AD, an investment firm based in Abu Dhabi, plans to launch a $400 million private equity fund to take stakes in companies across the region.

The Invest AD Private Equity Partners II fund will acquire stakes in as many as 12 firms in countries potentially including Egypt, Turkey, Saudi Arabia and the UAE, said Samir Assaad, the head of private equity at Invest AD. Read more details on The National or Reuters.

(To see more Abu Dhabi investors like Invest AD check our investors directory)

Presentation - Global Developments and Regional Prospects for Markets, Businesses and Private Equity

Fri, 23 Oct 2009 18:02:04 +0400

A great presentation from Super Return MENA 2009 summit was the one by Willem H. Buiter, Professor of Political Economy, London School of Economics and Political Science. It is titled: "Global Developments and Regional Prospects for Markets, Businesses and Private Equity".