We noticed you're blocking ads.

Keep supporting great journalism by turning off your ad blocker.

Questions about why you are seeing this? Contact us

Font Size

- Aa +

Sun 14 Jun 2009 02:39 PM

Font Size

- Aa +

IPIC eyes $30bn investments after Barclays deal

Abu Dhabi's investment co's CEO also says $12bn deals closed since middle of 2008.

Abu Dhabi's state-owned International Petroleum Investment Company (IPIC) is expanding its investment target to $30 billion after selling its stake in Barclays, IPIC's CEO said on Sunday.

IPIC has a current investment portfolio of between $16 to $20 billion, Khadem Al Qubaisi said in an interview.

He also said IPIC has closed deals worth $10-$12 billion since the middle of last year and is working on some 30 to 40 investment deals in the energy and other sectors. (Reuters)

Arabian Business: why we're going behind a paywall

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.