UAE’s Alpha Dhabi unit buys $953 mln stake in Aldar from Mubadala

Abu Dhabi state fund Mubadala has sold a 3.5 billion dirhams ($953 million) stake in property developer Aldar to a subsidiary of investment firm Alpha Dhabi Holding, the fund said in a statement on Wednesday.

For all the latest headlines, follow our Google News channel online or via the app.

The subsidiary, Sublime Commercial Investment, acquired a 12.21 percent strategic stake in Aldar, the statement said. Mubadala will remain Aldar’s largest shareholder at 25 percent, it said.

The transaction involved 960 million shares in a block trade and was carried out by local brokerage firms International Securities and ADCB Securities, the statement said.

Read more:

Abu Dhabi’s Mubadala to invest $1.1 bln in UK life science and health projects

Abu Dhabi funds invest $150 million in Telegram messaging app

UAE energy firm TAQA plans to expand its renewables portfolio in shift away from oil