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Virgin Group Ltd holds investment talks with the DIC

Virgin Group Ltd has held informal talks with Dubai International Capital (DIC) about securing investment backing from the $12 billion sovereign wealth fund, Britain's Times reported on Wednesday.

  • Agencies
  • Published: 09:59 April 2, 2008
  • Gulf News

Dubai: Virgin Group Ltd has held informal talks with Dubai International Capital (DIC) about securing investment backing from the $12 billion sovereign wealth fund, Britain's Times reported on Wednesday.

Possible financial support for Virgin could come from a sale of a stake in Virgin Active, which runs health clubs, or a
mobile phone joint venture in the Middle East, the newspaper said.

A group of Virgin executives is understood to have visited Dubai recently to meet DIC officials to discuss potential deals, the newspaper said.Jehad Saleh, a spokeswoman for DIC, owned by the ruler of Dubai, could not immediately be reached for comment.

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