Wednesday 20 October 2010

Reuters Summit-Abu Dhabi eyes foreign buys in 2011-HSBC | Reuters

The emirate of Abu Dhabi is on the prowl for international acquisitions and is eyeing deals in the energy and hospitality sectors in 2011, a senior executive at HSBC Middle East (HSBA.L) said.

Declan Hegarty, managing director and head of HSBC's Abu Dhabi office, also said he expects regional bond issuance to hit $40 billion in 2011 in contrast to about $35 billion last year.

"There are a number of entities in Abu Dhabi who are considering acquisitions that are consistent with 2030," Hegarty told the Reuters Middle East Investment summit, referring to the emirate's Plan 2030 strategic development blueprint.

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