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Aabar Shares Fall after It OKs Vote to Go Private - ASHARQ AL-AWSAT English Archive
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DUBAI, United Arab Emirates, (AP) – Shares of the Abu Dhabi investment fund with the largest stake in German automaker Daimler are down over 5 percent in early trading after its board called for a vote to take the firm private.

Aabar Investments said in a regulatory filing posted Sunday that its board approved plans to hold the shareholder vote July 26. It first floated the possibility of going private early last week.

The company says the move is “essential” and will give it “greater operational flexibility” as it pursues additional investments.

The fast-growing company is unusual among oil wealth-backed Gulf funds in that it sells some shares to the public. Going private would allow Aabar to disclose less information than it does now.

Asharq Al-Awsat

Asharq Al-Awsat

Asharq Al-Awsat is the world’s premier pan-Arab daily newspaper, printed simultaneously each day on four continents in 14 cities. Launched in London in 1978, Asharq Al-Awsat has established itself as the decisive publication on pan-Arab and international affairs, offering its readers in-depth analysis and exclusive editorials, as well as the most comprehensive coverage of the entire Arab world.

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