Aabar gets approval on $2bn convertible bond sale

02 May 2010

Abu Dhabi-based Aabar Investments has announced it has obtained shareholders approval for a $2bn convertible bonds sale to International Petroleum Investment Co (IPIC), Reuters has reported. The convertible bonds will be issued at the conversion price of 2.5 dirhams per share, the firm said in a statement. IPIC, wholly-owned by the government of Abu Dhabi, is the majority shareholder in Abu Dhabi-listed Aabar.

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