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Sovereign Wealth Funds Briefing - Categorized | Alternative Investments

Abu Dhabi fund takes majority stake in Arabtec

Posted on 14 May 2012

Abu Dhabi fund Aabar Investments has raised its stake in Arabtec Holding to 53 percent, a market official said on Sunday, effectively taking control of Dubai’s largest builder after a failed $1.7 billion bid two years ago.
The state-owned fund, which owns stakes in high-profile names such as German carmaker Daimler, commodities trader Glencore and Italy’s UniCredit, had been buying up shares in recent weeks through subsidiaries and owned a 10.45-percent in Arabtec as at end April………………………………………..Full Article: Source


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