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Tue 23 Mar 2010 08:45 AM

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Aabar sees investments grow to $10bn

Abu Dhabi-based investment company says it is eyeing further opportunities.

Aabar sees investments grow to $10bn
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Aabar Investments which has stakes in Daimler and Virgin Galactic, said on Tuesday its assets have grown to $10 billion and that it was eyeing more investments.

The Abu Dhabi listed firm had an asset value of some $625 million prior to state-owned International Petroleum Investment Company (IPIC) becoming the largest shareholder in Aabar.

"This value has grown in size since IPIC's investment in Aabar to approximately $10 billion as Aabar has become, in the last 12 months, one of the most prominent and active investors in Abu Dhabi," Khadem al Qubaisi, chairman of Aabar said in a statement.

Aabar is looking at increasing its investments that could include sectors such as construction, aviation and financial services, he said.

The firm is in takeover talks with Dubai-listed Arabtec. (Reuters)

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