Abu Dhabi’s Aabar seeks $2.74b deals

15 Nov 2010

(MENAFN) Khadem Al Qubaisi, Chairman of Abu Dhabi’s fastest growing investment fund Aabar revealed that it has been eyeing three European deals worth $2.74 billion after selling its stake in Banco Santander’s Brazil unit, Reuters reported.

The Abu Dhabi-based company is considering two infrastructure investments in Europe valued at between $681 million and $1.4 billion. Also, Aabar is eyeing stakes worth $2.7 billion in a blue-chip telecoms company in Europe or the US, said Al Qubaisi.

Aabar, which is a subsidiary of International Petroleum Investment Company (IPIC), currently has assets of $13 billion which are expected to reach $15-$16 billion by end of next year with new deals, said the chairman.

Oil-exporter Abu Dhabi is investing billions of dollars in industry, tourism, real estate and infrastructure to diversify its economy away from oil. Its investment funds, such as Aabar are actively investing across asset classes globally.

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