Friday 30 October 2009

Aabar to continue acquisitions

Aabar plans further acquisitions, notably in Latin America, after booking sharply higher third-quarter profits powered by its investment in the car maker Daimler.

“I can confirm that potential future transactions include new and exciting opportunities around the world and in areas not previously explored by Aabar,” said Mohammed al Husseiny, the chief executive of the investment firm controlled by the Abu Dhabi Government. His statement mentioned Latin America as a location of interest.

Earlier this month, the company announced it would pay US$328 million (Dh1.2 billion) to acquire a stake in Banco Santander (Brasil), a unit of Spain’s largest bank. That was the latest addition to a diverse portfolio of investments that includes Daimler, the maker of Mercedes-Benz, and Virgin Galactic, the space travel venture.

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