|Dubai loses interest in US investment
Sun, 24 Feb 2008 17:57:09
A top official of Dubai International Capital says the investment agency may no longer invest in the US due to falling asset prices. “The U.S. market is not yet attractive,” Chief Executive Sameer al-Ansari told Reuters in Jeddah, Saudi Arabia, on the sidelines of an investment conference.
“We are actively looking at Asia, namely India and China, especially in the manufacturing sector,” he added.
Dubai International Capital (DIC) was established in October 2004 as the international investment arm of Dubai Holding, an investment company which belongs to the Government of Dubai.
DIC aimed to buy the English Premier League side Liverpool FC in late 2006, but did not succeed as the club accepted an offer made by American tycoons, George Gillett and Tom Hicks.
However, the Daily Mirror reported in mid-February that DIC may buy the shares of Gillett and Hicks for £460 million, and a deal could go through by mid-March.