Alan Yau at Yauatcha
Alan Yau has sold Hakkasan and Yauatcha for $60 million to Tasameem, a property arm of the Abu Dhabi Investment Authority. This marks Tasameem’s entry into the busy London dining scene. Yau fans shouldn't worry, as he still maintains a stake in the restaurants and will serve as CEO, continuing to oversee the daily operation. The new owners will also provide a further $100 million in working capital to help fund future openings and international expansion. This year, Hakkasan will open in Istanbul in February, in Abu Dhabi in August and in Miami in October. It's also planning to land in Shanghai in spring 2009. Yauatcha is headed for Kuala Lumpur and Dubai in October.