Dubai purchases shares in Sony Corp.
360 days 22 hours ago
| by:
Agent-X
According to reports from Bloomberg, Dubai International Capital has purchased an unknown number of shares in Sony Corporation, estimated to be worth as much as USD 500 million.
While financial details are being kept under wraps, the company previously stated that it had been looking to invest USD 500 million in its first Japanese-based firm on November 19.
In a statement issued this week, Dubai International Captial CEO, Sameer al-Ansari, revealed that the firm has now acquired a “substantial” stake in the Japanese electronics giant.
"The combination of Sony's truly global brand, its leadership position in product design and its global footprint will spur the business' medium term growth", said al-Ansari.
In related news, the move has boosted Sony’s share price by a total of 4.6 per cent to JPY 5500 (USD 50.6), eclipsing the Nikkei average, which rose 1.7 per cent largely attributed to strong US retail sales following the Thanksgiving period last week. here is the link http://www.psu.com/Dubai-purchases-shares-in-Sony-Corp--a0001999-p0.php
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