Abu Dhabi investment firm buys Santander Brazil Block
Aabar Investments, an investment fund that has the biggest stake in Mercedes-Benz, as spent $328 million for part of a Brazilian bank that was recently floated by Banco Santander, the Spanish financial giant.
This is another sign that is enough cash left over in the Gulf governments, despite the current economic woes. The announcement of the investment can one day after Qatar’s sovereign wealth fund announced it has boosted its stake in Songbird Estates PLC. Qatar Holding is now the biggest shareholder of the same company that owns Canary Wharf in east London.
Aabar’s chairman Khadem Al-Qubaisi, said that the company is delighted to invest in such a strong entity. They hope to strengthen the existing relationship with Banco Santander.
As Abu Dhabi’s most active investment fund, Aabar has also bought a 9.1 percent state in Daimler and almost a third of Virgin Galactic, which is a commercial space travel company. Aabar is controlled through a majority stake that is owned by the state-run International Petroleum Investment Company.
