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Sovereign Wealth Funds Briefing - Categorized | Investment

Aabar seeking to buy 70 pct share in Arabtec

Posted on 11 January 2010

From Gulf-daily-news.com: Abu Dhabi-based Aabar Investments wants to acquire 70 per cent of Arabtec through convertible bonds, Aabar said, in a $1.7 billion deal which would provide both cash and potential new contracts for the Dubai builder.

Aabar’s board “has resolved to make an offer to Arabtec to acquire 70pc of the share capital of Arabtec by way of a mandatory convertible bond to be issued by Arabtec Holding to Aabar Investments at a conversion price of 2.3 UAE dirhams ($0.626) per share”, Aabar said…………………………………..Full Article: Source


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