Aabar Investments PJS (formerly Aabar Investments PJSC) is a private joint stock company registered and incorporated in Abu Dhabi, UAE. The company is engaged in investing activities in various industries including infrastructure, aviation, real estate, automotive, commodities, energy and financial services. Aabar was delisted from the Abu Dhabi Securities Exchange (ADX) effective 14 September 2010 and subsequently converted from a public joint stock company (PJSC) to a private joint stock company (PJS). The company’s parent is the International Petroleum Investment Company (IPIC), which is wholly owned by the Government of Abu Dhabi.
Aabar is a diversified investment company with interests across various sectors including real estate development, infrastructure, construction, financial services, food, energy, commodities, automotive and aerospace. Aabar’s investment approach focuses on lasting economic value, which is often independent of near-term market disruptions. It consistently strives to partner with best-in-class entrepreneurs and corporations, and builds long-term relationships which have been a key determining factor in the success it enjoys today. Aabar continues to align itself to companies that understand the benefits and realization of long-term vision that can be brought alive. Its approach to nurturing the ambitions of others has created a unique formula for success that is based on mutual acknowledgement of goals. Through achieving this, Aabar aims to positively transform the assets, people and communities that it touches.
Name : Aabar Investments
Name (Arabic): آبار للاستثمار
Industry : Investment Firms
Sector : Real estate, project investments, Financial Services, Investment Firms and Funds, Investment Firms
Headquarters Abu Dhabi
Founded : 200
Address & Location : Muroor Street 4, 22nd and 23rd Floors, Abu Dhabi UAE
Telephone Contact Number : +971 2-626-4466
Fax Number : +971 2-626-8228
Email Address : firstname.lastname@example.org
Company Website: www.aabar.com
Private joint stock company (Government owned)
Founded 2005; 12 years ago
Headquarters Abu Dhabi, United Arab Emirates
Revenue Increase US$53.813 million (2009)
Net income : Increase US$432.636 million (2009)
Total assets Increase US$10.146 billion (2009)
Total equity Increase US$3.446 billion (2009)
Owner : Abu Dhabi Government
In March 2009, Daimler AG announced the sale of EUR 1.95 billion ($2.7 billion) of shares to Aabar. The investment company will buy 96.4 million new Daimler shares for EUR 20.27 apiece. After acquiring all new shares, Aabar will hold approximately 9.1% of the new share capital.
The future cooperation between Aabar and Daimler aims to create social and economic benefits for Abu Dhabi and the UAE. The partnership will focus on joint initiatives in the following areas:
Electric vehicles with a particular focus on projects aiming at the reduction of CO2 emissions
Development and/or production of innovative compound materials to be used in automotive manufacturing
Social projects such as the establishment of a training center in Abu Dhabi to educate young talent for positions in the automotive industry
In May 2011, Aabar raised EUR 1.25 billion ($1.76 billion) of an unsecured exchangeable bond over Daimler shares that is due in 2016. Aabar had earlier launched a EUR 750 million ($1.06 billion) unsecured exchangeable bond but increased the size to EUR 1.25 billion following demand from investors during the book building phase. Aabar said its commitment to its investment in Daimler remained unchanged. Aabar will use the proceeds of the offering for general corporate purposes. Based on the increased issue size, the bonds will represent approximately 20 million Daimler shares, or 1.9% of the current total number of issued and outstanding shares.
In October 2011, Aabar announced that its voting stake in Daimler fell just below 5% through an increase in the German automaker’s share capital which was triggered by exercising stock options. But, Aabar said it remains fully committed to its position as anchor shareholder and stated that its total shareholding in Daimler still compares to the stake it bought in 2009.
In October 2012, Daimler announced that Aabar had sold its 3.07% stake in the German carmaker when it had a market value of about EUR 1.25 billion ($1.6 billion). Aabar did not reveal the buyer nor the price at which the stake was sold. However, sources said that rather than selling the stake, Aabar had relinquished it to banks including Deutsche Bank and Goldman Sachs after failing to finance derivatives deals. The exit was not an outright stake sale that saw Aabar cash away its shareholding. The equity derivatives attached to the financing led to the stake being diluted. Aabar had entered derivative transactions, mainly collar trades and put options, to finance the acquisition.
Falcon Private Bank In April 2009, Aabar announced the completion of its acquisition of AIG Private Bank from its parent American International Group (AIG). AIG Private Bank will conduct its business under the new name Falcon Private Bank. The consideration payable for the entire share capital of AIG Private Bank is equal to CHF 288 million ($253 million). In addition, Aabar will assume certain loans outstanding in the amount of CHF 63 million ($55 million).
Falcon Private Bank is now an independent financial institution, wholly owned by Aabar, headquartered in Switzerland along with branches and representative offices in Geneva, London, Singapore, Abu Dhabi and Dubai. Aabar plans to grow the business with a particular focus on providing wealth management services to private clients, wealthy families and institutional investors in Switzerland, Asia and the Middle East.
In July 2009, Aabar purchased 40% of the equity interest of Daimler AG in Tesla Motors Inc., a producer of electric vehicles. This investment allows Daimler and Aabar to leverage their shared interest in the development of low CO2 drive systems. In May 2009, Daimler acquired an equity interest of just under 10% in Tesla which is currently the only automobile producer marketing electric vehicles that are capable of operating over long distances. Daimler and Tesla have already agreed to cooperate on the integration of Tesla’s lithium-ion battery packs and charging electronics into the first 1,000 units of Daimler’s electric smart car. In order to benefit from each other’s know-how, the agreement reached in May 2011 was set to enable the two companies to collaborate more closely on the development of battery systems, electric drive systems and individual vehicle projects.