A private equity company owned by the ruler of eastern Arabian emirate Dubai has made what it is calling a "substantial investment" in Sony.
Aside from using the word, 'substantial', Dubai International Capital (DIC) has refused to name the exact figure and size of the stake. Following the announcement shares in Sony closed up 4.6 percent at 5,500 yen (£24.53). Rather than referring to itself as a private equity fund or an asset stripper, DIC uses the term 'Global Strategic Equities Fund' (GSEF).
The three-year restructuring process at Sony instigated by CEO Howard Stringer is coming to an end; both the recent successful listing of Sony Financial Holdings and the sell-off of its semiconductor business indicate that the next phase - a very cash-focused phase - is in the offing.
"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", said Sameer Al Ansari, executive chairman and CEO of Dubai International Capital.
So, medium-term growth is what we're looking for is it? Also, capitalisation? To us, you see, that indicates that there are going to more sell-offs. But, of course, we are a video games website and not serious financial analysts such as the mighty Michael Pachter... what do we know?
Aside from using the word, 'substantial', Dubai International Capital (DIC) has refused to name the exact figure and size of the stake. Following the announcement shares in Sony closed up 4.6 percent at 5,500 yen (£24.53). Rather than referring to itself as a private equity fund or an asset stripper, DIC uses the term 'Global Strategic Equities Fund' (GSEF).
The three-year restructuring process at Sony instigated by CEO Howard Stringer is coming to an end; both the recent successful listing of Sony Financial Holdings and the sell-off of its semiconductor business indicate that the next phase - a very cash-focused phase - is in the offing.
"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", said Sameer Al Ansari, executive chairman and CEO of Dubai International Capital.
So, medium-term growth is what we're looking for is it? Also, capitalisation? To us, you see, that indicates that there are going to more sell-offs. But, of course, we are a video games website and not serious financial analysts such as the mighty Michael Pachter... what do we know?
Companies:
Sony
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Comments
deleted 26 Nov 2007 21:37
1/4
perhaps the ruler of eastern Arabian emirate Dubai has purchased a PS3 and with all the negative comments towards the PS3 in the media (and spong forums) he has decided to make his investment in a PS3 worthwhile by buying into the company and `trying` to ensure the future of his home gaming choice!,
of course i am being sarcastic and i completely support the PS3 along with the Wii and 360 (games rule regardless of the platform) my above comment would be a crazy suggestion and only someone with a complete retarded mentality, more money than grains of arabian sand and a PS3 would do this... but then again those PS3 fanboys?
of course i am being sarcastic and i completely support the PS3 along with the Wii and 360 (games rule regardless of the platform) my above comment would be a crazy suggestion and only someone with a complete retarded mentality, more money than grains of arabian sand and a PS3 would do this... but then again those PS3 fanboys?
jasp 27 Nov 2007 03:29
2/4
Erm to the other poster. SCEI (games division) is about a tenth of Sonys revenue. The game division really is pretty small fry for Sony.
And to the article editor. These people have bought at most 3% of Sony. The reason for the investment is because Sonys medium/long term financial forecasts are very good. The only downside at the moment is the games division but should by the end of next year be profitable.
And to the article editor. These people have bought at most 3% of Sony. The reason for the investment is because Sonys medium/long term financial forecasts are very good. The only downside at the moment is the games division but should by the end of next year be profitable.
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deleted 27 Nov 2007 22:11
3/4
jasp wrote:
Erm to the other poster. SCEI (games division) is about a tenth of Sonys revenue. The game division really is pretty small fry for Sony. {quote]
next time read my full post and see how i was being sarcastic, derr
next time read my full post and see how i was being sarcastic, derr
SuperSaiyan4 28 Nov 2007 09:16
4/4
Looks like Sony needs saving after investing in the CELL and then selling their share, then with the battery recall, then with the huge losses on the PS3 and having to make a degraded model the Arabs are coming to the rescue! Hahaha