Sunday 30 August 2009

Dubai International Capital seeks £150m boost for Alliance Medical

Alliance Medical, which is majority owned by Dubai International Capital (DIC), the investment firm controlled by Sheikh Mohammed bin Rashid Al Maktoum, is seeking up to £150m in fresh funds.

The business has hired Close Brothers Corporate Finance – now owned by Daiwa Securities – to advise the company on securing the extra capital.

DIC bought Alliance Medical at the top of the credit boom in November 2007 for £600m from British private equity firm Bridgepoint. Bridgepoint, which paid £111m in a secondary deal for the business in 2001, is thought still to have a stake in the company.

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