ICD extends Colonial due diligence

Published Thursday, February 21, 2008

By Agencies

The Investment Corporation of Dubai wants to spend more time going through the books of bid target, Spanish real estate firm Colonial and has extended the due diligence period to February 27, the sovereign wealth fund said on Thursday.

On February 1, Colonial said it had opened its books to ICD for two weeks of due diligence and the Dubai sovereign wealth fund said it would announce its decision within three days of going through the accounts.

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