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Aabar to buy 32pc stake in Virgin Galactic

Abu Dhabi, July 28, 2009

Aabar Investments said on Tuesday it will take a 32-per cent stake worth $280 million in Virgin Group's space unit Virgin Galactic.

In a filing on the Abu Dhabi bourse website, the investment firm said the deal was still subject to US and other regulatory approvals, but said it had committed an additional $100 million to fund a satellite launch capability.

Aaabar, an investment vehicle of the Abu Dhabi government,  plans to build a spaceport in the United Arab Emirates capital. The deal gives it regional rights to host Virgin Galactic tourism and scientific reseach space flights, it said.-Reuters




Tags: Stake | Aabar Investments | Virgin Galactic |

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