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Wed 24 Nov 2010 02:35 PM

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Abu Dhabi's Aabar cashes out Santander stake for $30m

Abu Dhabi investment vehicle held less than 3 percent in Banco Santander

Abu Dhabi's Aabar cashes out Santander stake for $30m
ABU DHABI FIRM: Aabar was delisted recently from the Abu Dhabi Securities Market (ADX)

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).

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