Abu Dhabi's Aldar Properties (ALDR.AD) said it secured shareholder approval to place its planned issue of convertible bond worth 2.8 billion dirhams ($762.3 million) with state-owned investment fund Mubadala.
The indebted developer was rescued by a $5.2 billion lifeline by Abu Dhabi in January and announced plans to sell properties such as the Ferrari theme park, the world's first park based on the Italian sports car and racing teams. [ID:nLDE70B0LX]
The shareholders approved issuing the convertible bonds to Mubadala along with other point on the agenda in an extraordinary general meeting on Sunday.
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