Dubai firm buys stake in Kerzner’s Atlantis hotels

April 3, 2014 10:25 PM

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A Dubai government conglomerate behind some of the emirate’s industrial powerhouses said Thursday it bought a “significant” stake in the international hotel operator that runs the Atlantis hotel in the Bahamas and on Dubai’s main palm-shaped island.

Investment Corporation of Dubai said it bought the stake in Kerzner International Holdings from the family of its founder and several institutional investors. Neither company disclosed the purchase price, but an ICD official told The Associated Press the investment company now owns a stake of more t...

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