The state stabilization fund owned by the government of Abu Dhabi announced on Thursday that it has purchased nearly a 5 percent stake in the Italian bank UniCredit.
Aabar Investments Fund reported to regulatory authorities on Thursday that its Luxembourg branch, Aabar Luxembourg, has acquired a 4.99 percent stake in the Italian bank UniCredit. The fund did not disclose the value of the transaction. According to the Wall Street Journal, the value of Aabar’s stake is estimated at 1.82 billion euros, based on UniCredit’s share price from June 16, when the transaction was recorded. No one was available for statements from the fund on Thursday, WSJ further reported. A spokesperson for UniCredit also declined to comment on the matter. Aabar is majority-owned by the government of Abu Dhabi, the largest of the seven emirates that make up the United Arab Emirates. It holds a 7.1 percent stake in the German Daimler and nearly a third of the new commercial space travel company Virgin Galactic, which is owned by Richard Branson. (H)
