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Dubai World to Invest $5B in MGM Mirage and Resort Project

posted by   ruchir (1089)   15 months ago (www.analystsedge.com)

State-owned Dubai World said it will buy 14 million shares of MGM Mirage from the company at $84/share, a 13% premium over Tuesday's close of $74.32, purchase another 14 million shares from investors, and pay $2.7 billion for a 50% stake in MGM's CityCenter Las Vegas resort project.

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