Dubai firm buys rumored $500 million stake in Sony
Posted Nov 26th 2007 4:15PM by Nick Doerr
Filed under: Business, News
It seems that Sony isn't the only company willing to toss a large amount of cash on their brand name. Dubai International Capital, the international investing portion of Dubai Holding, recently bought a very large stake in Sony. The CEO, Sameer al-Ansari, wouldn't disclose the actual amount of the investment, but did claim recently he planned to purchase a $500 million stake in a "Japanese-headquartered company".
The $500 million results in a 1% stake in Sony, which isn't really that much considering their number one investor is Moxley & Co., holding an impressive 17.6% stake. So, why did Dubai take a dip in the Sony pool? "We like their leadership position in electronics and their strong presence in emerging markets," said COO Anand Krishnan. We hope their investment helps not only them, but Sony along with the PS3.
