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Dubai investors acquire major stake in Raimon Land

General Motors selects CEVA as logistics provider

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Dubai investors acquire major stake in Raimon Land

Two investors based in Dubai have become major shareholders in Raimon Land PLC; IFA Hotels & Resorts (IFA HR), a listed company on the Kuwait Stock Exchange, and Istithmar Hotels, the hospitality asset management arm of Istithmar, a private equity and alternative investment house based in the United Arab Emirates.

“We welcome these two substantial investors” - Nigel Cornick, CEO of Raimon Land.

Each group has acquired approximately 24.9% of Raimon Land for a total investment of approximately two billion baht. The transaction gives the two groups six seats on the Raimon Land Board of Directors.
Commenting on the company’s new shareholders, Nigel Cornick, CEO of Raimon Land PLC, said: “We welcome these two substantial investors as new shareholders. It demonstrates that Raimon Land has become an internationally recognised Thai developer and reflects the potential we have in our existing projects and future developments that are planned.”
Mr. Cornick went on to add: “We will benefit directly from these two partners and their wealth of experience in global real estate markets. IFA Hotels and Resorts track record in developing high end residential and hotel resort projects in partnership with such prestigious brands as Fairmont Hotels, Movenpick and Starwood fits well with Raimon’s thrust into the resort destinations of Thailand. On its side, Istithmar will bring international financial and investment expertise, networks and contacts in key world markets.”
With a market capitalization of over US$1 billion, IFA Hotels & Resorts specializes in the development of tourism resort projects throughout Europe, the Middle East, the Indian Ocean and Africa.
Istithmar Hotels FZE is the hospitality asset management arm of the Dubai-based Istithmar; a private equity and alternative investment house based in the United Arab Emirates that is 100% owned by Dubai World, which is in turn wholly owned by the Government of Dubai.

General Motors selects CEVA as logistics provider

CEVA Logistics (formerly known as TNT Logistics) has expanded its activities with General Motors outside the USA with the announcement of a new contract with General Motors (Thailand) Limited. The contract is the first logistics contract between CEVA and General Motors in Thailand.
Matthew Stimpson, Business Development Director for CEVA, commented: “This is great news for CEVA. General Motors is the biggest automotive company in the world and we are delighted to have been appointed by them. Their operation in Thailand is extensive and thanks to our logistics management systems we will deliver greater efficiencies within General Motors’ supply chain. The new contract will further strengthen our global relationship with GM, which includes significant operations in the United States, South America, Europe and Australia”.
The CEVA operation will involve the collection of components from suppliers for delivery to General Motors’ plant in Rayong. It is envisaged that the deal will grow significantly during the second year of the contract.

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