Rothschild Scion Takeover
of Kurdish Iraq Oil Co.
From Klosters to Kurdistan
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
n 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.
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1 comment:
this article is from 2011 ( 3 YEARS AGO ) -----
WHY ARE YOU POSTING THIS NOW?!??!?!?!
- without any comment prior?!??!!?
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