Tuesday 19 June 2018

Aabar assets hit $10bn, eyes more investments

Abu Dhabi, March 23, 2010

Aabar Investments which has stakes in Daimler AG and Virgin Galactic, said on Tuesday its assets have grown to $10 billion and that it was eying more investments.

The Abu Dhabi listed firm had an asset value of some $625 million prior to state-owned International Petroleum Investment Company (Ipic) becoming the largest shareholder in Aabar.

'This value has grown in size since Ipic's investment in Aabar to approximately $10 billion as Aabar has become, in the last 12 months, one of the most prominent and active investors in Abu Dhabi,' Khadem al Qubaisi, chairman of Aabar said in a statement.

Aabar is looking at increasing its investments that could include sectors such as construction, aviation and financial services, he said.

The firm is in takeover talks with Dubai-listed Arabtec. – Reuters

Tags: abu dhabi | Arabtec | Aabar | assets | IPIC | Daimler | Virgin Galactic |

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