Saturday, April 28, 2012

Dubai spends $250M to get full control of Atlantis

FILE-- This Wednesday Sept. 8, 2010 file photo shows an avenue leading to the Atlantis hotel on Palm Jumeira Island in Dubai, United Arab Emirates. Dubai says it now has full control over the Atlantis resort hotel perched at the top of its palm-shaped island. State-run investment firm Istithmar World said late Friday April 27, 2012 it paid $250 million to buy out business partner Kerzner International, which had held a 50 percent stake in the coral-colored hotel. Istithmar already owned half of the property. Istithmar is part of Dubai state conglomerate Dubai World, which has struggled with high-profile debt troubles of its own. (AP Photo/Kamran Jebreili-File)Dubai says it now has full control of the Atlantis resort hotel perched atop its palm-shaped island.


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