Aabar targets Europe in €150m deal

Aabar Investments, the Abu Dhabi government-backed investor, has a formed a partnership to target the European property market and technology-based firms.

The firm agreed to form a €150 million (Dh783m) joint venture partnership with the Berndorf group of Austria aimed at acquiring attractively priced assets in Europe.

Aabar will contribute €100m in equity funding to the new venture, to be called ABAG, and which will be incorporated in Austria.