Middle East Economic Survey

VOL. LIII

No 30

26-Jul-2010

UAE

Aabar And IPIC Agree On New Buyout Offer Price

Abu Dhabi investment company Aabar and its majority stakeholder International Petroleum Investment Company (IPIC) have agreed to increase a buyout offer to minority shareholders to Dh1.95 ($0.53) a share, from Dh1.45 ($0.39) a share, as the largest single investor in Germanys Daimler seeks to delist from the emirates stock exchange and become a private company. The offer period commenced on...