Aabar Investments PJSC
Aabar Investments PJSC is an investment firm based in Abu Dhabi. The International Petroleum Investment Company (IPIC) is the majority owner of the company with a 95,3% stake. The fund was called Aabar Energy until they pulled out of the energy sector to focus on investments across a variety of sectors. Aabar was listed on Abu Dhabi Securities Exchange until August 8, 2010 when it was taken private by the IPIC. It has, at times, done boutique investments in companies such as Brawn GP and Virgin Galactic.
As of March 2010, Aabar has over $10 billion in assets. Prior to the the takeover by the IPIC, Aabar only had $625 million in assets.
The International Petroleum Investment Company (IPIC) bought $1.8 billion worth of convertible bonds that fully matured before November 2009. IPIC currently owns 95,3% of Aabar. It held 71% of the company when the majority of the convertible bonds they purchased fully matured in November 2009. Since the investment, Aabar has been rejuvenated and have taken several large investments. It attempted to take a 70% stake of Arabtec but Aabar decided to pull out after due diligence. IPIC purchased an additional $1.1 billion worth of convertible bonds and shares in June 2010. Aabar is expected to sell an additional 900 million to IPIC later in 2010. The funds from the bond sale would be used for "corporate purposes".
IPIC loaned Aabar $2 billion in September 2011 to fund Aabar's RHB Capital investment. in 2012, Aabar took a book lost of $3.4 billion in their investments of Unicredit and Daimler. At the end of 2011, Aabar had a debt load of $9.7 billion. Aabar has started talks to refinance on $2 billion of debt that comes due in May 2013.
It is believed that the Invest AD owns a 1.11% stake in the company but it is quite possible that they have sold the stake.
|AIG Private Bank||$254 million||December 1, 2008|
|Atlantia||€250 million||December 30, 2008|
|Daimler||€1.95 billion||March 22, 2009|
|Tesla Motors||July 12, 2009|
|Virgin Galactic||$280 million||July 2009|
|Mercedes GP (Brawn GP)||November 2009|
|XOJET||$20 million||February 2010|
|XOJET-Aabar JV||February 2010|
|Algeria-Ferrostaal JV||February 2010|
|Herrrenknecht-Aabar JV||$3.5 million||February 2010|
|UniCredit||$2.24 billion||June 16, 2010|
|Glencore||$1 billion||May 2011|
|RHB Capital||$1.9 billion||September 2011|
|Arabtec||$225 million||May 2012|
Arbar offered $1.7 billion for 70% Arabtec in convertible shares until both sides called off the deal in mid April 2010.
Aabar held $328 million worth of depositary shares in Banco Santander Brasil until selling the stake for a profit of $25 million in November 2010.
|Board of Directors|
|Khadem Abdulla Al Qubaisi (Chairman)|
|Mohamed Hamad Al Mehairi|
|Murtadha Al Hashemi|
|Alyazia Al Kuwaiti|
Aabar Properties is the planned property unit of Aabar. It was expected to be launched in April 2010.