UAE investment firm Aabar Investments and Austrian holding company Berndorf AG have joined forces in a new joint venture aimed at European investment. The new company, to be incorporated in Austria under the name ABAG Aktiengesellschaft, will target its investments at medium-sized technology and real-estate business. The agreement initially has Aabar providing EUR 100 million in equity funding while Berndorf will contribute EUR 50 million.
Due to its long term experience and expertise in European investment, Berndorf will assume a major role in management of ABAG.
This joint venture company being established in Austria by partners Aabar Investments and Berndorf AG, aims to help both companies develop long term returns on their European investments. Medium-size technology companies will be the preferred target of ABAG investments, though the firm will also be active in real estate holdings. The deal is a win-win situation for both investors, providing management expertise to Aabar and increased capital resources to Berndorf.
Aabar Investments PJSC (www.aabar.com)
Aabar Investments is an investment and holding company based in Abu Dhabi, United Arab Emirates. It was established in March 2005 with a mandate to develop oil and gas exploration and production in the region. In April of that year its initial IPO established a total capital base of AED 900 million. Today Aabar has expanded its investments to include the automotive, energy, financial services, infrastructure, and real estate sectors.
The company’s largest shareholder continues to be the Abu Dhabi government through its wholly owned holding, International Petroleum Investment Company. Aabar is currently listed on the Abu Dhabi Securities Exchange.