Dubai buys more MGM Mirage stock from Kerkorian foundation

National Post’s Financial Post & FP Investing (Canada)
December 29, 2007 Saturday
National Edition

Dubai World increased its stake in casino operator MGM Mirage to 6.5%
after agreeing to buy five million shares from a foundation founded
by MGM controlling shareholder Kirk Kerkorian. Dubai World, a holding
company for the Persian Gulf state that previously held a 5% stake in
MGM, bought its additional shares from the Lincy Foundation for
$424US-million, or $84US.80 a share. The deal was announced yesterday
in a filing with the U.S. Securities and Exchange Commission. In the
filing, Dubai World said the purchase was for investment purposes.
The company manages the government of Dubai’s business projects,
includes the private-equity powerhouse Istithmar and a big investment
portfolio. Mr. Kerkorian founded the Beverly Hills-based Lincy
Foundation after the devastating 1988 Armenian earthquake. He is of
Armenian descent.

From: Emil Lazarian | Ararat NewsPress

Emil Lazarian

“I should like to see any power of the world destroy this race, this small tribe of unimportant people, whose wars have all been fought and lost, whose structures have crumbled, literature is unread, music is unheard, and prayers are no more answered. Go ahead, destroy Armenia . See if you can do it. Send them into the desert without bread or water. Burn their homes and churches. Then see if they will not laugh, sing and pray again. For when two of them meet anywhere in the world, see if they will not create a New Armenia.” - WS