PRESS RELEASE: MCC Global NV Announces Bahrain International Circuit Contract Clarification
MCC Global N.V. / Contract
05.08.2008
Release of a Corporate News, transmitted by DGAP - a company of EquityStory AG.
The issuer / publisher is solely responsible for the content of this announcement.
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MCC Global NV Announces Bahrain International Circuit Contract
Clarification
MCC Global NV ('MCC' or the 'Company') (FRANKFURT: IFQ2), the global
private equity investment and advisory company, today announced that MCC
Project Partners, in which MCC Global is a 25 percent shareholder, wishes
to clarify any uncertainty surrounding its assignment with the Bahrain
International Circuit ('BIC').
MCC Project Partners ('MCCPP') was formed to create and execute mixed-use
real estate development plans across the globe. MCCPP was hired to prepare
a plan for the BIC and subsequently created the Bahrain Center of
Excellence ('BOCE') business plan, a multi-billion-dollar, multi-purpose
development for the 450 acres surrounding Bahrain's Formula One Circuit in
Sakhir. The preparation of this comprehensive plan was completed by MCCPP
per the initial contract. MCCPP was then hired to execute this plan for
the BIC under additional contract terms as the General Partner of BCOE. As
time moved on and MCCPP continued to develop the agreed plan, many of the
contract parameters caused delays and funding was not made available per
the timelines, so the agreement between the parties was consequently
terminated and a confidential settlement was agreed with the BIC.
MCC continues to use its comprehensive and well established industry skill
sets to create business communities around the world. In the past month,
considerable interest in the MCC skill sets related to developing real
estate based on innovative business plans and communities has been
demonstrated by the owners of several professional racing circuits and
other major sporting venues. The mixture of strategic business planning and
proven ability to build businesses to enhance economic growth and
diversification globally has been a center point of MCC's business since
1999 in such sectors as sports & leisure, hospitality & lifestyle,
technology, media & telecommunications as well as education and real
estate.
About MCC Global
MCC Global NV is a global private equity investment and advisory company
specializing in providing strategic and financial advisory and investment
services to emerging and established companies in specific industry sectors
such as healthcare, energy renewables, media, real estate, and hospitality
and lifestyle. MCC Global NV (www.mccglobal.com) is listed on the
Frankfurt Stock Exchange Geregelter Markt (General Standard), ticker IFQ2.
This press release may contain certain forward-looking statements regarding
future circumstances. These forward-looking statements are based upon
current expectations and assumptions of MCC Global N.V. (the 'Company') and
are subject to various risks and uncertainties that could cause actual
results to differ materially from those contemplated in such
forward-looking statements including, in particular, the risks and
uncertainties described in the Company's most recently filed prospectus and
other public filings. Actual results, events, and performance may differ.
Readers are cautioned not to place undue reliance on these forward-looking
statements, which speak only as to the date hereof. The Company undertakes
no obligation to release publicly any revisions to these forward-looking
statements that may be made to reflect events or circumstances after the
date hereof or to reflect the occurrence of unanticipated events. The
inclusion of any statement in this release does not constitute an admission
by the Company or any other person that the events or circumstances
described in such statements are material.
Enquiries:
MCC Global
Dana Smith, Investor Relations Email: ir@mccglobal.com
Issued by
GTH Media Relations
Christian Pickel Christianp@gth.co.uk
05.08.2008 Financial News transmitted by DGAP
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Language: English
Issuer: MCC Global N.V.
Keizersgracht 62-64
1015 CS Amsterdam
Niederlande
Phone: +31 20 520 6826
Fax: +31 20 520 7510
E-mail: ir@mccglobal.com
Internet: http://www.mccglobal.com
ISIN: NL0000687705
WKN: A0LFAF
Listed: Regulierter Markt in Frankfurt; Freiverkehr in Berlin,
Stuttgart, Düsseldorf
End of News DGAP News-Service
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(END) Dow Jones Newswires
August 05, 2008 02:40 ET (06:40 GMT)
