{"id":58396,"date":"2017-06-20T01:39:38","date_gmt":"2017-06-19T18:39:38","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/?p=58396"},"modified":"2017-06-19T23:55:05","modified_gmt":"2017-06-19T16:55:05","slug":"mubadala-investment-company-ready-to-buy-remaining-50-in-viceroy-hotel-group","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/mubadala-investment-company-ready-to-buy-remaining-50-in-viceroy-hotel-group\/","title":{"rendered":"Mubadala Investment Company ready to buy remaining 50% in Viceroy Hotel Group"},"content":{"rendered":"


\nMubadala Investment Company could announce as early as this week that it will buy out the 50 per cent of Viceroy Hotel Group it doesn’t already own, a person familiar with the discussions confirmed.The hospitality group owns and operates more than dozen hotels across the world, including the Viceroy Palm Dubai, which opened at the end of March, the Yas Viceroy Abu Dhabi, which straddles the Formula One track, and L’Ermitage Beverly Hills, which it acquired in 2010.
\nThe deal would see involve Mubadala, Abu Dhabi’s strategic development company, buying the 50 per cent stake owned by Malaysian businessman Jho Low and his affiliates, after he and his family lost a long battle in US federal court to prevent the seizing of assets by the US department of justice, which has alleged they were acquired with proceeds illegally siphoned from the 1Malaysia Development Bhd (1MBD) sovereign fund. 1MDB is the subject of investigations in multiple jurisdictions.
\nUS prosecutors last week filed a civil forfeiture complaint in a federal court in Los Angeles seeking US$540m in assets allegedly purchased with funds stolen from 1MDB, including “rights to and interests in the Viceroy Hotel Group”, the Financial Times first reported on Sunday.Mubadala officials declined to comment, and the terms of a possible deal have not been disclosed. Mr Low acquired his stake in two transactions for a total of US$31 million more than five years ago, since when the group has continued to expand. The proceeds of any sale would be held by the US department of justice as part of its recovery process. Other assets the authorities have sought to seize include a New York penthouse, a share of EMI music publishing rights, and a corporate jet.
\nThe Viceroy hotels are part of Mubadala’s international hospitality portfolio, which sits within the $122 billion fund’s “alternative investments and infrastructure” platform, accounting for about 30 per cent of its assets.amcauley@thenational.ae
\n
\nSource : thenational.ae
\nRead more…Mubadala Investment Company ready to buy remaining 50% in Viceroy Hotel Group<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Mubadala Investment Company could announce as early as this week that it will buy out...<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[1],"tags":[],"class_list":["post-58396","post","type-post","status-publish","format-standard","hentry","category-property-news"],"jetpack_featured_media_url":"","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-fbS","jetpack-related-posts":[{"id":58286,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/abu-dhabi-wealth-fund-in-talks-to-buy-stake-in-viceroy-hotel-group\/","url_meta":{"origin":58396,"position":0},"title":"Abu Dhabi wealth fund in talks to buy stake in Viceroy Hotel Group","date":"June 19, 2017","format":false,"excerpt":"\r Mubadala Development Company hopes to finalise the deal \u2018within a matter of days\u2019\r \r Source : ft.com\r Read more...Abu Dhabi wealth fund in talks to buy stake in Viceroy Hotel Group","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":92264,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/aldar-to-launch-new-viceroy-branded-property-in-abu-dhabi\/","url_meta":{"origin":58396,"position":1},"title":"Aldar to launch new Viceroy-branded property in Abu Dhabi","date":"June 21, 2018","format":false,"excerpt":"\r Announcement comes after Marriott International was appointed to refurbish the Yas Viceroy into a W Hotel property\r \r Source : arabianbusiness.com\r Read more...Aldar to launch new Viceroy-branded property in Abu Dhabi","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":57522,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/viceroy-dubai-developer-to-launch-dh2-1-billion-hospitality-reit\/","url_meta":{"origin":58396,"position":2},"title":"Viceroy Dubai developer to launch Dh2.1 billion hospitality Reit","date":"June 12, 2017","format":false,"excerpt":"\r The developer behind two Viceroy hotels in Dubai has said that it is launching a Dh2.1 billion real estate investment trust (Reit).Five Holdings, the company previously known as Skai Holdings, has said that the trust will be the first hospitality-focused Reit to launch in the region, and the biggest\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":52011,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/eshraq-and-mubadala-team-up-for-abu-dhabi-plot-developments\/","url_meta":{"origin":58396,"position":3},"title":"Eshraq and Mubadala team up for Abu Dhabi plot developments","date":"April 16, 2017","format":false,"excerpt":"\r Eshraq Properties and Mubadala Development Company are teaming up to develop plots on Abu Dhabi's Reem and Al Maryah Islands.Eshraq said in a filing that the joint venture company would develop land plots in Abu Dhabi owned by Mubadala on Al Maryah Island and by Eshraq Properties on nearby\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":51745,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/abu-dhabis-mubadala-raises-1-5bn-ahead-of-ipic-merger\/","url_meta":{"origin":58396,"position":4},"title":"Abu Dhabi's Mubadala raises $1.5bn ahead of IPIC merger","date":"April 12, 2017","format":false,"excerpt":"\r The merged entity, which will be known as Mubadala Investment Co, will have combined assets of $125 billion\r \r Source : arabianbusiness.com\r Read more...Abu Dhabi's Mubadala raises .5bn ahead of IPIC merger","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":129416,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/abu-dhabis-mubadala-and-taqa-to-invest-in-power-sector-in-uzbekistan\/","url_meta":{"origin":58396,"position":5},"title":"Abu Dhabi\u2019s Mubadala and TAQA to invest in power sector in Uzbekistan","date":"September 10, 2022","format":false,"excerpt":"\r Investment will result in the privatization of two gas-fired power generation plants\r \r Source : arabianbusiness.com\r Read more...Abu Dhabi\u2019s Mubadala and TAQA to invest in power sector in Uzbekistan","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"https:\/\/i2.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2022\/09\/Abu-Dhabi-Skyline-1000x667-1.jpg?fit=1000%2C667&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/58396"}],"collection":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/comments?post=58396"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/58396\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=58396"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=58396"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=58396"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}