Aabar Investments
 |
|
| (Government owned) | |
| Industry | Investments |
| Founded | 2005 |
| Headquarters |
Abu Dhabi, United Arab Emirates |
|
Key people
|
Khadem Al-Qubaisi, Chairman Mohamed Badawy Al-Husseiny, CEO and Board Member |
| Revenue |
 US$53.813 million (2009) |
|
US$432.636 million (2009) |
|
| Total assets |
US$10.146 billion (2009) |
| Total equity |
US$3.446 billion (2009) |
| Owner | Abu Dhabi Government |
| Website | www.aabar.com |
Aabar Investments PJS (formerly Aabar Investments PJSC) is a private joint stock company registered and incorporated in Abu Dhabi, UAE. The company is engaged in investing activities in various industries including infrastructure, aviation, real estate, automotive, commodities, energy and financial services. Aabar was delisted from the Abu Dhabi Securities Exchange (ADX) effective 14 September 2010 and subsequently converted from a public joint stock company (PJSC) to a private joint stock company (PJS).
The company’s parent is the International Petroleum Investment Company (IPIC), which is wholly owned by the Government of Abu Dhabi. As per IPIC’s semi-annual financial statements, IPIC's ownership in Aabar stood at 95.52% as of 30 June 2012.
In March 2009, Daimler AG announced the sale of EUR 1.95 billion ($2.7 billion) of shares to Aabar. The investment company will buy 96.4 million new Daimler shares for EUR 20.27 apiece. After acquiring all new shares, Aabar will hold approximately 9.1% of the new share capital.
The future cooperation between Aabar and Daimler aims to create social and economic benefits for Abu Dhabi and the UAE. The partnership will focus on joint initiatives in the following areas:
In May 2011, Aabar raised EUR 1.25 billion ($1.76 billion) of an unsecured exchangeable bond over Daimler shares that is due in 2016. Aabar had earlier launched a EUR 750 million ($1.06 billion) unsecured exchangeable bond but increased the size to EUR 1.25 billion following demand from investors during the book building phase. Aabar said its commitment to its investment in Daimler remained unchanged. Aabar will use the proceeds of the offering for general corporate purposes. Based on the increased issue size, the bonds will represent approximately 20 million Daimler shares, or 1.9% of the current total number of issued and outstanding shares.
In October 2011, Aabar announced that its voting stake in Daimler fell just below 5% through an increase in the German automaker's share capital which was triggered by exercising . But, Aabar said it remains fully committed to its position as anchor shareholder and stated that its total shareholding in Daimler still compares to the stake it bought in 2009.
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