Abu Dhabi investment vehicle
Aabar made a $30m profit on the sale of its stake in
Banco Santander as it continues seek opportunities to
realise returns, its chairman said on Wednesday.
"We made good money, about $30 million and will continue to
look at opportunities," Khadem Al Qubaisi told reporters at an
event in Abu Dhabi.
Aabar, which also has stakes in Daimler and
Virgin Galactic, held less than 3 percent in Banco Santander, he
said, adding that the stake was sold in the open market.
Oil-exporter Abu Dhabi is investing billions of dollars in
industry, tourism, real estate and infrastructure to diversify
its economy away from oil. Its investment funds are actively
investing across asset classes globally.
Aabar was delisted recently from the Abu Dhabi Securities
Market (ADX).For all the latest banking and finance news from the UAE and Gulf countries, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page, which is updated daily.
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