Firms' venture in the UAE to provide aviation services in the Mideast & North Africa region.
Aabar Investments agreed to invest $20m for shares in US aviation company Xojet, a private airline company that offers jet services to business and leisure travelers, newswire Bloomberg reported on Wednesday.
Aabar and Xojet plan to form a joint-venture in the UAE to provide aviation services in the Middle East and North Africa, Aabar said in a statement to the Abu Dhabi.
Aabar is an investment company headquartered in Abu Dhabi and is listed on the Abu Dhabi Securities Exchange. It directly invests in various sectors including energy, infrastructure, real estate, automotive and financial services companies.
Its largest stakeholder is International Petroleum Investment Co, which in turn is wholly owned by the government of the emirate of Abu Dhabi.