Abu Dhabi has held talks to offload all or part of a 49 percent government stake in struggling Aldar Properties in an attempt to stop its falling asset value from dragging down state investment fund Mubadala.
According to two sources familiar with the discussions, the talks have been held at the highest levels of government for the last few months. They centre on identifying an existing buyer or setting up a new holding group that could take up the stake.
The sources would not say whether the talks were still ongoing or had stalled, but they said recent discussions revolved around shifting the Aldar stake to an Abu Dhabi-based bank through a swap deal.
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