Alpha Dhabi unit buys $953 million stake in Aldar from Mubadala | Reuters
Abu Dhabi state fund Mubadala has sold a 3.5 billion dirham ($953 million) stake in property developer Aldar to a subsidiary of investment firm Alpha Dhabi Holding, the fund said in a statement on Wednesday.
The subsidiary, Sublime Commercial Investment, acquired a 12.21% strategic stake in Aldar, the statement said. Mubadala will remain Aldar’s largest shareholder with 25%, it said.
“Institutional investor interest in Aldar reflects confidence in the Abu Dhabi real estate sector and Aldar’s central role in implementing the Emirate’s economic diversification strategy,” the statement said.
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