28.07.2014 - Dubai builder Arabtec posts major cash deficit for second quarter
Arabtec is likely to need a capital injection or new debt financing after its second-quarter earnings figures showed a significant worsening of its cash position, analysts said. Aabar, which owns 18.94 per cent of Arabtec, is the company’s second-largest shareholder. Aabar is owned by International Petroleum Investment Corporation, an Abu Dhabi sovereign wealth fund that manages $65.3bn in assets, according to the Sovereign Wealth Fund Institute...............................................Full Article: Source
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