Dubai firm invests in Sony

"Substantial" stake in CE company sold

26 November 2007 16:22 GMT / By Amy-Mae Elliott

NewDawn GSE Asset Management Limited, a subsidiary of DIC Asset Management (DICAM) has announced that it has made a "substantial investment" in Sony Corporation.

Sameer Al Ansari, Executive Chairman and Chief Executive Officer of Dubai International Capital LLC, said: "Sony provides GSEF with a compelling investment case, consistent with our mandate of supporting premier global companies".

"Whilst the restructuring process at Sony is well
advanced, the recent successful listing of Sony Financial Holdings is evidence of management's ongoing strategy of focusing on capital efficiency and cash generation."

"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 capitalises on positive underlying trends and emerging technologies."

The terms of the deal, or even the exact percentage that DICAM has purchased in Sony is not known, with only the fact that it is "substantial" officially discussed.

Full tags

Biz, Sony, DICAM