Monday, November 26, 2007
Dubai International Capital, an investment company owned by the ruler of this booming Persian Gulf city-state, has acquired a stake of undisclosed size in the Japanese electronics and media company Sony Corp.
United Arab Emirates-based DIC described its investment in Sony as "substantial" in a statement posted on the company's Web site, but did not provide a specific ownership percentage.
Sony spokesman Daichi Yamafuji confirmed Dubai International Capital's purchase but refused to provide any other details.
"It's the other party that acquired the stake and we decline to discuss any other details such as the number of shares involved," he said.
The chief executive of Dubai International Capital, Sameer Al Ansari, said the investment in Sony, which owns consumer electronics, video game and movie businesses, was "consistent with our mandate of supporting premier global companies."
"The combination of Sony's truly global brand, its leadership in product design and its global footprint will spur the business' medium term growth as it capitalizes on positive underlying trends and emerging technologies," said Al Ansari in the company's statement.
By: DocMemory
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