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Dubai firm buys rumored $500 million stake in Sony

by Nick Doerr on Nov 26th 2007 4:15PM

It seems that Sony isn't the only company willing to toss a large amount of cash on their brand name. Dubai International Capital, the international investing portion of Dubai Holding, recently bought a very large stake in Sony. The CEO, Sameer al-Ansari, wouldn't disclose the actual amount of the investment, but did claim recently he planned to purchase a $500 million stake in a "Japanese-headquartered company".

The $500 million results in a 1% stake in Sony, which isn't really that much considering their number one investor is Moxley & Co., holding an impressive 17.6% stake. So, why did Dubai take a dip in the Sony pool? "We like their leadership position in electronics and their strong presence in emerging markets," said COO Anand Krishnan. We hope their investment helps not only them, but Sony along with the PS3.

Source

Tags: dubai-holding

Reader Comments (18)

More capital contribution equals more cash which they can convert to other assets, so this is good news.

They should use this money to immediately subsidize another 100 dollar price cut through the Xmas season. That would move 10 million units easily.

Moxley and company is essentially the impact of people buying the ADR shares on the NYSE. So, 17% of Sony's share trade on the NYSE.

http://en.wikipedia.org/wiki/Moxley_&_Co.

They should give the money to Warner and get them to dump HD DVD.

Finally! The PS3 gets to show off its potential with the upcoming "Jihad 4: American Devil May Cry".

Actual martyrs have said on the PS3, it feels like the real thing!

Guess what...not every person of Middle Eastern descent is a Jihadist. Your comment is beyond rude.

Guess what... not every sarcastic comment is to be taken as gospel, or personally.

Your lack of a sense of humor is beyond lame.

I must have missed the note that said making racist comments is 'funny'.

Now everyone in Dubai can have a PS3. It will become the nation's official console for the UAE.

It could be up to 1.5 billion dollars or 3% according to reports:

http://www.redherring.com/Home/23190

sweet the comments section looks nice now, finally doing some catching up to joystiq... how do I upload my avatar?

Surely Sony haven't made a penny on this? There are suggestions here to the contrary.

The recipient of the money would be whomever Maktoum bought the shares off (not that it would normally be a single individual or company). They are publicly traded shares therefore the beneficiaries could be anything from small investors to large pension funds. Unless of course Sony did a rights issue - which is not the case.

Thanks Jay. I was just about to say something about that. This doesn't exactly put any money into Sony's pockets just the lucky ones who might've sold it for a healthy profit.

On another note, Thanks PS3Fanboy! Finally a decent comment system. I likes me the new look!

I thought SONY only had 1 Billion out of a possible 3.6 Billion allowable shares in the market right now?

Looks like people are finally having more confidence in the PS3.

Well, the big companies anyways. Consumers seem to be growing towards the PS3 more and more now.

Guys! This is a confidence INVESTMENT! "EMERGING TECHNOLOGIES!" Think about it.

Blu-ray ROCKS! Get a 7.1 PCM/TrueHD/DTS-HD MA receiver and you'll find out.

If Sony use the money to make a whole shipment of KDL46X3500U appear in the UK tommorrow I will be happy. I have had one on order for months, and was told the other day that they aren't expected until the start of January at the earliest.

Didn't this turn out to be an investment in Citibank and not SONY?

Breaking News

Dubai firm buys rumored $500 million stake in Sony

Reader Comments (18)

Posted: Nov 26th 2007 4:28PM ruibing said

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