Abu Dhabi's Aabar Investments boosts stake in Dubai builder Arabtec

06 March 2012

Abu Dhabi's Aabar Investments, which scrapped a $1.7bn deal to take a majority stake in Arabtec two years ago, has increased its holding in the construction firm to 5.28%, Reuters has reported. In 2010, the two firms said they would cooperate strategically after Aabar's bid to buy 70% of Arabtec was abruptly cancelled. The move makes the sovereign wealth fund one of the largest shareholders in Arabtec.

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