A tie-up will make sound business rationale for ADIC
as it would merely own a more profitable combined banking group after cost restructuring has been implemented, which will in turn lead to surplus capital release, reduce the cost of funding and enhance asset quality.
The senior leadership of the ADIC
will still manage the council.
holds a 70% stake in the UAE's National Bank of Abu Dhabi.
It is fully owned by ADIC
and is regulated by the Central Bank of the UAE."
This acquisition - especially by ADIC
, demonstrates that foreign investment can be attracted based on sound financial viability of projects undertaken within Pakistan despite the fact the country is under an IMF programme.
Contact Details: Abu Dhabi Investment Council (ADIC
) PO Box 61999 Abu Dhabi UAE Phone: +9712 6115500 Fax: +9712 6115500 Email: firstname.lastname@example.org
'This is an important step, which should lead to some exciting investment opportunities both in South Korea and the Mena region,' said Nazem Fawwaz Al Kudsi, ADIC
's chief executive, according to a report in our sister publication, the Gulf Daily News.
'The Middle East should not just be regarded as a source of capital but also as an investment destination,' said Nazem Al Kudsi, ADIC
's chief executive.
The strategic co-operation will start with ADIC
's asset management business providing advisory services to the investment company of BHF-Band, Frankfurt-Trust and its FT Emerging Arabia and FT Emerging Arabia (US dollar) funds.
Commenting on the appointment, ADIC
CEO Nazem Fawwaz Al Kudsi said, "Our people are at the heart of the value we offer our clients.
A spokeswoman for Prudential Financial Inc in Newark, New Jersey, said on Wednesday that the insurer sold its 75 per cent stake in the Art Deco style skyscraper to the Abu Dhabi Investment Council (Adic
The Abu Dhabi Investment Council (ADIC
) is negotiating to buy a 75 per cent stake in New York City's landmark Chrysler Building for $800 million, the New York Post reported yesterday.A The paper cited sources as saying the assets would be purchased from TMW, the German arm of an Atlanta-based investment fund, while ADIC
will reportedlyA also get part of the skyscraper's 'Trylons' retail space next door.