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Aabar assets reach $10 billion

23 Mar 2010

(MENAFN) Abu Dhabi’s Aabar Investments, which has stakes in Daimler AG and Virgin Galactic, said that its assets have grown to $10 billion and that it was eying more investments, Reuters reported.

The Abu Dhabi listed firm had an asset value of some $625 million prior to state-owned International Petroleum Investment Company (IPIC) becoming the largest shareholder in Aabar.

This value has grown in size since IPIC’s investment in Aabar to approximately $10 billion as Aabar has become, in the last 12 months, one of the most prominent and active investors in Abu Dhabi, the company’s chairman said.

Aabar is looking at increasing its investments that could include sectors such as construction, aviation and financial services, he said, adding that the firm is in takeover talks with Dubai-listed Arabtec.

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