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Sovereign Wealth Funds Briefing - Categorized | Market

Aabar snaps up AIG Private Bank

Posted on 02 December 2008

From Thenational.ae: Aabar Investments, an Abu Dhabi-based investment company, will acquire AIG Private Bank from its parent company, the troubled American International Group (AIG), for 307 million Swiss francs (Dh931.2m).

The acquisition comes less than three months after the US government took emergency measures to rescue AIG from financial difficulties. “This transaction represents a great opportunity to leverage AIG Private Bank’s expertise in wealth management and to further develop it in our region,” said Khadem al Qubaisi, the chairman of Aabar….. Full Article: Source


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