Dubai International sets its sights on U.S. acquisitions

[donsu]

http://www.iht.com/articles/2007/07/18/business/dubai.php


Gulf state investment agencies are buying stakes in overseas companies to get exposure to regions with different growth cycles and to reduce dependence on oil.

With investment risks mounting in the world's major economies, Dubai International Capital, the private equity firm of Dubai's ruler, Sheik Rashid ibn Said al-Maktoum, said Tuesday that it planned to add more U.S. companies to its portfolio to hedge investments it has made in Asia and to protect against its heavy focus on Europe.

"It is very important for us to find and execute deals in the U.S. as we're trying to create a diversified portfolio," Sameer al-Ansari, Dubai International's chief executive, said in an interview Wednesday at the firm's London offices.

Gulf state investment agencies like Dubai International, Qatar Investment Authority and Kuwait Investment Authority are buying stakes in overseas companies to get exposure to regions with different growth cycles and reduce dependence on oil. Dubai's economy has been booming because of rising oil and real estate prices. A Qatar investment fund Wednesday offered to buy J Sainsbury, the British supermarket chain with a market value of £10.4 billion, or $21.35 billion.

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breaking us americans into pieces and selling us off

don't you love it?

[northzax]

1. why do you think the DOW is at 14,000?

it ain't the paltry .7% economic growth in the US that's doing it, it is capital flowing into the cheap US dollar from Asia, Europe and the Middle East.