Aabar Investments
 | |
| Industry | Investments |
|---|---|
| Founded | 2005 |
| Headquarters | |
Key people | Khadem Abdulla Al Qubaisi, Chairman |
 US$217.27 Million (2008) [1] | |
| Total assets |  US$922.12 Million (2008) [1] |
| Total equity | US$627.82 Million (2008) [1] |
| Owner | Abu Dhabi Government |
| Website | www.aabar.com |
Aabar Investments PJSC (formerly known as Aabar Petroleum) is a global investment company owned through a series of subsidiary companies by the Abu Dhabi Government. Headquartered in Abu Dhabi, it is a public joint stock company listed on the Abu Dhabi Securities Exchange. Founded in 2005, the initial investors were the Abu Dhabi Investment Authority (Sovereign Wealth Fund of Abu Dhabi), and Mubadala Development Company. As of 2010, Aabar Investments' majority shareholder is the International Petroleum Investment Company (IPIC) holding 71% of the company's shares.
Investments
Aimed at its foundation around a core mandate to develop an Oil and Gas business with focus on exploration and production, Aabar has since has made a series of strategic investments in other areas.
Daimler AG
Daimler AG is a globally leading producer of luxury cars Mercedes-Benz and the largest manufacturer of heavy and medium duty trucks in the world. Aabar Investments PSJC acquired 9.1% of the share capital of Daimler AG,[2] becoming the largest shareholder of the company. They plan to develop job opportunities in the automobile industry in Abu Dhabi and together they have developed a partnership investment in the electric vehicles manufacturer Tesla Motors.
Brawn GP
On 16 November 2009 it was officially announced that Aabar Investments in partnership with Daimler AG had purchased a 75.1% stake in Brawn GP (Daimler AG: 45.1%; Aabar: 30%).[3] Reports suggest the partnership paid £110m for the 75.1%.[4] The team would be rebranded as Mercedes Grand Prix for 2010 Formula One Season. The remaining 24.9% stake is Ross Brawn's in partnership with Nick Fry. The team will use the Brawn GP base in Brackley for its operations and Brawn will stay on as team principal.[3]
Tesla Motors
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- Tesla Motors: purchased 40% of Daimler AG's near 10% holding in Tesla Motors.[5][6]
Virgin Galactic
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- Virgin Galactic: 32%[7]
Falcon Private Bank
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Atlantia
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During 2008 it sold two of its subsidiaries. In January it sold Dalma Energy LLC while in May it sold PEARL Energy Limited. The operating loss of the company was AED 41.19 million during the fiscal year 2008, as compared to an operating loss of AED 56.20 million during 2007. The net profit of the company was AED 721.59 million during the fiscal year 2008, an increase of 218.44% over 2007.[9]
Aabar's shareholder equity has increased from AED10.93 billion in the second quarter to AED12.41billion in the third quarter and the statements show a net profit of AED1.478 billion in the third quarter.
References
- ^ a b c "Annual Report 2008" (PDF). Aabar Investments. 2008-12-31. Retrieved 2009-12-20.
- ^ "Daimler Investor Relations". Daimler. Retrieved 30 November 2008.
- ^ a b "Mercedes take ownership of Brawn". news.bbc.co.uk. 2009-11-16.
- ^ http://www.telegraph.co.uk/sport/motorsport/formulaone/brawngp/6584910/Mercedes-rule-out-increasing-offer-to-Jenson-Button-after-Brawn-GP-buy-out.html
- ^ Arrington, Michael (2009-05-19). "Tesla Worth More Than Half A Billion Dollars After Daimler Investment". Techcrunch.com. Retrieved 2009-08-01.
- ^ "Abu Dhabi takes part of Daimler's Tesla stake". MarketWatch. 2009-07-13. Retrieved 2009-08-08.
- ^ "Aabar Investments and Virgin Group Agree Equity Investment Partnership in Virgin Galactic". Aabar Investments. 2008-07-28. Retrieved 2009-12-20.
- ^ "Acquisition of stake in Atlantia S.p.A." Aabar Investments. 2008-12-30. Retrieved 2009-12-20.
- ^ [1]