|
|
Article: Aabar Gets $1.41b Capital Boost after Acquiring Major Daimler Stake.
- Article from:
- Khaleej Times (Dubai, United Arab Emirates)
- Article date:
- March 25, 2009
CopyrightCOPYRIGHT 2009 Al Bawaba (Middle East) Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
|
Summary: ABU DHABI - Aabar Investments PJSC received a $1.41 billion capital infusion from a company owned by the Abu Dhabi government, just a day after splashing out almost twice that amount to become the largest shareholder in German carmaker Daimler AG.
International Petroleum Investment Co., also called IPIC, completed a purchase of $1.41 billion in bonds that are convertible into ordinary Aabar shares, Aabar said on Monday.
The injection follows a smaller outlay of about $408 million that IPIC made to Aabar last month. Once IPIC converts all its shares, it will own 71 per cent of Aabar, almost doubling its current 36 per cent stake in the Abu ...