Dubai Investments PJSC (DIC), the owner of stakes in more than 40 companies, plans to exit some of its businesses as Dubai’s economy shows signs of recovery, Chief Executive Officer Khalid bin Kalban said.
“We have three companies under evaluation or due diligence for private placements and by summer we can decide on exits,” Kalban said an interview in Dubai on March 7. “The economy is improving and the whole dust surrounding the financial situation is settling. It’s a good opportunity to look again at divesting some of the assets.”
Dubai Investments, which operates in businesses including real estate, financial services and investments, slowed its divestment plan after the financial crisis hit Dubai late 2008. The company sold 40 percent of its private equity unit Masharie LLC for 400 million dirhams ($109 million), it said in 2008. One of the companies it will divest this year is part of Masharie, Kalban said.
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