Date: Fri, 20 Jun 2014 20:00:36 +0000 (GMT)
Subject: Rothschild Scion Takeover Of Kurdish Iraq Oil
Co.
Iraq-Erbil: Nat Rothschild's world stretches from the
coal mines of Indonesia via the aluminum smelters of Siberia to a legendary
wine estate in France. And it just got much bigger. Last week, Mr.
Rothschild made a huge bet on the oil fields of Iraqi
Kurdistan, one of the last great frontiers in oil exploration. His investment
vehicle Vallares PLC said it will merge with Genel Energy International Ltd., a
Turkish firm that pumps oil in Kurdistan, to create a $4 billion company.
The deal has raised some eyebrows in London. Critics say
cash shells like Vallares provide a back door to the London Stock Exchange for
murky emerging-market firms that might otherwise fail to comply with listing
rules.
Yet when Vallares listed last June, it raised a whopping
$2.18 billion—a mark of the faith Mr. Rothschild inspires in investors.
"These are very unusual structures because you get
entrusted with people's capital and get given the license to do what you want
with it, on the basis of trust," he says. That trust is an asset Mr.
Rothschild has leveraged into a complex network of
business interests spanning the globe. The scion of a banking dynasty that
expanded its wealth by cultivating relationships with influential people, he is
equally at ease among Russian oligarchs, English aristocrats and New York
socialites. Based in Klosters, Switzerland, he will spend more than 700 hours
aboard his private jet this year.
Visit stage3alpha at: http://s3alpha.net/?xg_source=msg_mes_network
No comments:
Post a Comment