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Sovereign Wealth Funds Briefing - Categorized | Investment, Market

No need for SWF funds: Arabtec

Posted on 19 March 2012

Arabtec has no plans to renew talks with Abu Dhabi state fund Aabar Investments about a taking a stake in the Dubai builder because its funding needs have eased, its chief financial officer said.
Sovereign fund Aabar, which owns stakes in German carmaker Daimler and commodities trader Glencore, scrapped a $1.7bn deal to buy a 70% stake in Arabtec through mandatorily convertible bonds two years ago at the peak of Dubai’s property market collapse………………………………………..Full Article: Source


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