Goldman, Abu Dhabi, MSD invest in NY developer
|
| Posted
:
Mon, 17 Dec 2007 11:49:05 GMT |
| Author
:
Reuters |
| Category
:
US (Business) |
| News Alerts by
Email ( click
here ) |
|
|
|
|
|
NEW YORK (Reuters) - Related Cos is getting $1.4 billion in funding from investors that include Goldman Sachs Group Inc , an affiliate of the investment arm of Abu Dhabi, and Michael Dell's MSD Capital investment firm, the privately held New York real estate developer said on Monday.Each investor will also co-invest in future development projects, Related said.Related was behind the construction of New York's Time Warner Center and earlier this year agreed to buy the 11 Virgin Megastores music stores in North America from Virgin Entertainment Group.The deal includes $400 million in equity from Goldman and Dell Inc Chief Executive Michael Dell's MSD, which will give the two a 7.5 percent stake in Related -- valuing the company at more than $5 billion, according to a report in The Wall Street Journal.Olayan Group, a Saudi Arabian company, is also one of the investors, Related said.(Reporting by Emily Chasan; Editing by Lisa Von Ahn)
(c) Reuters 2007. All rights reserved. Republication or redistribution of Reuters content, including by caching, framing or similar means, is expressly prohibited without the prior written consent of Reuters. Reuters and the Reuters sphere logo are registered trademarks and trademarks of the Reuters group of companies around the world.
|
|
|
|
|
|
|
|
|
