Wednesday, June 24, 2009

Soldiers Out of Iraq, Barbarians In

While American troops plan to draw down from Iraqi cities, U.S. branded multinational companies are moving in. Iraqi oil fields deals are expected next week. Exxon/Mobil may finally get a chunk of the world's third largest oil reserves.

Private equity underwriters (PEU's) have their eye on Iraqi power, telecommunications, banks, infrastructure and cement companies. The Carlyle Group has a new $500 million Middle East/North Africa fund. Soldiers leave, while financial barbarians stand at the gate.