Invest AD, an Abu Dhabi government- owned money manager, is completing three transactions valued at about $150 million in Turkey, Egypt and the United Arab Emirates.
“The deals have a range of sectors - one is consumer goods, the other is light-to-medium manufacturing business,” the company’s head of private equity, Samir Assaad, said in Abu Dhabi today. Invest AD may close one deal by year end, he said.
Abu Dhabi’s government has pursued investments in real estate, tourism and infrastructure as it seeks to diversify away from an oil-based economy. The emirate’s non-oil businesses will contribute 50 percent of its gross domestic product by 2015, adding about $167 billion a year, as projected in its 22-year economic plan.
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