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Article: United Arab Emirates : Aabar Investments posts $593m Q2 net loss.(Financial report)
- Article from:
- TendersInfo
- Article date:
- September 1, 2009
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Byline: pinto03
Aabar Investments, the biggest shareholder in Daimler, posted a second-quarter loss as it booked 2.25 billion dirhams ($613 million) in losses from derivative financial instruments.
Net loss was 2.18 billion dirhams ($593m) compared with a profit of 546.3 million dirhams a year earlier, the Abu Dhabi government-backed investor said in a statement to the emirate s bourse on Tuesday.
Aabar in March paid $2.7 billion for a 9.1 percent stake in Stuttgart, Germany-based Daimler, the world s second-biggest luxury carmaker.
In July, it bought a 32 percent stake in Richard Branson s Virgin Galactic Ltd. commercial space venture ...