Aabar Investments

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Aabar Investments PJS

logo
legal form Corporation
founding March 2005
Seat Abu Dhabi United Arab EmiratesUnited Arab EmiratesUnited Arab Emirates 
management Chadim Abdullah al-Kubaissi (Chairman), Mohamed Hamad Al Mehairi (CEO)
Branch Investments , equity stakes
Website www.aabar.ae

The Aabar Investments PJS ( Arabic آبار للاستثمارات, DMG Ābār li-l-istiṯmārāt ; formerly Aabar Investments PJSC ) is an investment company based in Abu Dhabi , the capital of the United Arab Emirates .

history

In March 2005 the two sovereign wealth funds Abu Dhabi Investment Authority (ADIA) and Mubadala Development Company (MDC) and the oil manager Suhail Faris Mazroui founded the holding company Aabar Energy PJSC , which was initially supposed to invest in the oil and gas industry. Aabar Energy PJSC was able to generate approx. 250 million dollars from the IPO.

In July 2005, Dalma Energy was acquired for 100 million US dollars. In early 2006, Pearl Energy was acquired for $ 550 million. An Islamic bond ( sukuk ) for millions of US dollars was issued for this purpose. Dalma Energy signed an oil production contract with Algeria in early 2007 and started producing oil in Indonesia.

In July 2007 Dalma Energy was sold for $ 446 million and in May 2008 Pearl Energy was sold to the sovereign wealth fund Mubadala Development Company for 833 million euros . After that, Abar Energy was renamed Aabar Investments PJSC .

On 24 September 2008 included Aabar Energy PJSC and the International Petroleum Investment Company (IPIC) a purchase agreement under which IPIC convertible bonds ( English mandatory convertible bonds ) over 6.68 billion AED acquires (about 1.41 billion euros). After conversions from February 15, 2009 to March 23, 2009, IPIC held 71 percent of Aabar Investments PJSC .

In August 2015, Mohamed Badawy Al-Husseiny was replaced by Mohamed Hamad Al Mehairi as CEO .

As of December 31, 2014, IPIC held 98.32% of the shares in Aabar.

Participations in the automotive sector and motorsport

In the course of the financial crisis, Aabar acquired shares of 9.1 percent in Daimler AG for 1.95 billion euros . As part of this strategic partnership, the company also participated in the Mercedes AMG F1 Team . In July 2009, Aabar bought 40% of its 10% stake in Tesla Motors from Daimler AG as part of a strategic partnership . In June 2012, Aabar withdrew from the joint venture with Tesla at Daimler's request . In October 2012, Daimler announced that Aabar no longer held any physical shares, but only had access rights to papers; cash settled options on 12.75% of all Daimler shares are attributable to the previous major shareholder . In November 2012, Aabar sold the 40% stake in the Mercedes AMG F1 Team to Daimler.

Participations in European financial services companies

On June 25, 2010, Aabar announced that it had acquired 4.99% of the Unicredit Group through its wholly-owned subsidiary Aabar Luxembourg Sarl . Aabar is the owner of Falcon Private Bank in Zurich, which among other things has a stake in bank zweiplus .

Investments in the raw materials segment

In May 2011, Aabar participated in the IPO of the Swiss raw materials company Glencore International and became its largest single shareholder. In November 2012, it was announced that Aabar had written off more than $ 392 million of the $ 1 billion investment.

Advertising partnerships

From September 2011, Niki Lauda was Aabar's brand ambassador and wore the company logo on his cap .

Web links

Individual evidence

  1. ^ Rainer Hermann: The ambitious investment strategists from Abu Dhabi . In: Frankfurter Allgemeine Zeitung , March 23, 2009. Retrieved January 5, 2014.
  2. ↑ International Petroleum Investment Company - Payment and Conversion of Final Tranche of Mandatory Convertible Bond . March 23, 2009 ( Memento from April 12, 2013 in the Internet Archive )
  3. ↑ Aabar Investments names Ipic investment chief as its new CEO | The National. Retrieved August 23, 2016 .
  4. ↑ Annual Report 2014 ( Memento from February 15, 2017 in the Internet Archive ) of the International Petroleum Investment Company PJSC, accessed on June 6, 2017, p. 50 (PDF; English).
  5. ↑ Abu Dhabi joins Daimler . In: Spiegel Online , March 22, 2009. Retrieved March 23, 2009.
  6. ↑ UPDATE 1-UAE'S Aabar buys 40 pct of Daimler's Tesla stake . Reuters , June 13, 2009. Retrieved January 4, 2014.
  7. ^ Aabar pulls out of Daimler investment in Tesla . Reuters, June 27, 2012. Retrieved January 4, 2014.
  8. ↑ Abu Dhabi sells Daimler shares . In: Handelsblatt , October 11, 2012. Accessed January 4, 2014.
  9. ↑ Daimler takes over the Mercedes team completely . Spox.com , November 19, 2012. Retrieved January 5, 2014.
  10. ↑ Aabar acquires 4.99% stake in Unicredit SPA (PDF; 66 kB) ( Memento from December 21, 2011 in the Internet Archive )
  11. ↑ Abu Dhabi's Aabar writes down Glencore stake . Reuters, November 16, 2012. Retrieved December 19, 2013.
  12. ↑ Investment company Aabar new Kapperl sponsor of Lauda. In: Small newspaper . September 9, 2011, archived from the original on January 5, 2014 ; accessed on August 27, 2018 .