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Investment Corp of Dubai buys stake in Kerzner – Bloomberg

Investment Corp of Dubai took over leadership of Kerzner International Holdings, the hotel operator that built Atlantis resorts in the Gulf emirate and The Bahamas, according to Bloomberg news service. 

Source:
Date:
Updated:
Bloomberg
Thursday, April 3, 2014
Thursday, April 3, 2014

ALT TAG HEREInvestment Corp. of Dubai took over leadership of Kerzner International Holdings, the hotel operator that built Atlantis resorts in the Gulf emirate and the Bahamas.

ICD, which holds stakes in United Arab Emirates government businesses from transportation to heavy industry, purchased a “significant” stake in Kerzner, it said in a statement today without disclosing the size or cost. Mohammed Al Shaibani, ICD’s chief executive officer, will become chairman of Kerzner.

This is an excerpt from Bloomberg as it appeared on April 3, 2014. For updates or to read the current version of this post in its entirety, please click here.

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The Department of Statistics has released data that indicates that the Bahamas' gross domestic product showed positive growth in current prices of 2.5 per cent and in constant prices of 2.7 per cent. Watch a ZNS Network news report here.

Speaking at the National Conclave of Chambers of Commerce in The Bahamas yesterday, Prime Minister Perry Christie said that public private partnerships are an innovative mechanism for economic development and urged businesses to explore opportunities in this area.

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