DIC eyes sports group bid

DIC DEAL: Dubai International Capital may bid for IMG, the international sports management group which manages stars such as Justin Timberlake (pictured) and Tiger Woods. (Getty Images)

Dubai International Capital, the private equity house that manages $13 billion on behalf of the emirate, may bid for IMG, the international sports management group.

DIC is working with Terry Semel, the former Yahoo and Warner boss on the planned acquisition, the UK's Sunday Times newspaper reported on Sunday.

The sports management company could cost as much as $3 billion, the newspaper said, citing people close to IMG.

However that could be an “aggressive price” the newspaper said.

IMG manages celebrities including Tiger Woods and Justin Timberlake.

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