Deals of the day -- mergers and acquisitions Reuters India DU proposed merger with Aabar Investments AABAR .AD is still on track with a possible deal closure in March and the firm expects to post better profits in ... and more » More ...
Aldar invites project partners National Some of Aldar's projects include its headquarters, Ferrari World and the Formula One circuit. Philip Cheung / The National, Aldar, Galen Clarke Aldar ... and more » More ...
Emirates Business 24/7 Arabtec trims top line projection Emirates Business 24/7 Meanwhile, the company's proposed merger with Aabar is still on track. We are working on it, he added, but did not elaborate further on when the deal ... and more » More ...
Global markets drag Gulf lower National Shares in Aabar Investments closed 2.5 per cent lower at Dh2.33. Aldar Properties, Abu Dhabi's largest developer, was down 3.9 per cent and Sorouh Real ... More ...
UAE's Arabtec says Aabar merger on track Reuters DU proposed merger with Aabar Investments ( AABAR .AD) is still on track, with a possible closure in March, and the firm expects to post better profits in the ... and more » More ...
Dubai Hits Two-week High as Emaar Shares Rise Khaleej Times Aabar Investments rose 0.8 per cent to Dh2.39 after Arabtec's chief executive was quoted in a local newspaper as saying the builder's sale of a 70 per cent ... and more » More ...
Mixed note ends Gulf week National Aramex shares bucked the overall trend on the Abu Dhabi bourse yesterday to advance 1.8 per cent. Philip Cheung / The National DUBAI // Gulf equity markets ... and more » More ...
Equities Maintain Bullish Trend as Banking Sector Boosts Investor Confidence Khaleej Times Arabtec fell 1.7 per cent to Dh2.29 on sustained market speculation that its sale of a 70 per cent stake to Aabar Investments — announced in early January ... and more » More ...
S.Korea expects renewable energy invest at $4.8 bln in 2010 Reuters India SEOUL, Feb 3 (Reuters) - South Korea said renewable energy investment in the country is expected to reach 5.5 trillion won ($4.78 billion) this year, ... and more » More ...
UPDATE 1-S.Korea sees $4.8 bln renewables investment in 2010 Reuters India SEOUL, Feb 3 (Reuters) - South Korea, heavily dependent on oil and gas imports, estimated on Wednesday that renewable energy investment would hit reach 5.5 ... and more » More ...
Links are to the relevant PDF report on the ESCA website and are provided as a convenience by ShareWadi.com. We are not responsible for the content or availability of any external sites or pages. If accounts are not available from ESCA, try the ADX or DFM website.
Deals of the day -- mergers and acquisitions Reuters India DU proposed merger with Aabar Investments AABAR .AD is still on track with a possible deal closure in March and the firm expects to post better profits in ... and more » More ...
Aldar invites project partners National Some of Aldar's projects include its headquarters, Ferrari World and the Formula One circuit. Philip Cheung / The National, Aldar, Galen Clarke Aldar ... and more » More ...
Emirates Business 24/7 Arabtec trims top line projection Emirates Business 24/7 Meanwhile, the company's proposed merger with Aabar is still on track. We are working on it, he added, but did not elaborate further on when the deal ... and more » More ...
Global markets drag Gulf lower National Shares in Aabar Investments closed 2.5 per cent lower at Dh2.33. Aldar Properties, Abu Dhabi's largest developer, was down 3.9 per cent and Sorouh Real ... More ...
UAE's Arabtec says Aabar merger on track Reuters DU proposed merger with Aabar Investments ( AABAR .AD) is still on track, with a possible closure in March, and the firm expects to post better profits in the ... and more » More ...
Dubai Hits Two-week High as Emaar Shares Rise Khaleej Times Aabar Investments rose 0.8 per cent to Dh2.39 after Arabtec's chief executive was quoted in a local newspaper as saying the builder's sale of a 70 per cent ... and more » More ...
Mixed note ends Gulf week National Aramex shares bucked the overall trend on the Abu Dhabi bourse yesterday to advance 1.8 per cent. Philip Cheung / The National DUBAI // Gulf equity markets ... and more » More ...
Equities Maintain Bullish Trend as Banking Sector Boosts Investor Confidence Khaleej Times Arabtec fell 1.7 per cent to Dh2.29 on sustained market speculation that its sale of a 70 per cent stake to Aabar Investments — announced in early January ... and more » More ...
S.Korea expects renewable energy invest at $4.8 bln in 2010 Reuters India SEOUL, Feb 3 (Reuters) - South Korea said renewable energy investment in the country is expected to reach 5.5 trillion won ($4.78 billion) this year, ... and more » More ...
UPDATE 1-S.Korea sees $4.8 bln renewables investment in 2010 Reuters India SEOUL, Feb 3 (Reuters) - South Korea, heavily dependent on oil and gas imports, estimated on Wednesday that renewable energy investment would hit reach 5.5 ... and more » More ...
28 April 2008 AGM approved 10% cash dividend. Record date not supplied
31 March 2008 - AED 900,000,000 share capital, 900 million shares outstanding
09 March 2008 - EGM approved 100% sale of Pearl Energy to Mubadala
31 December 2007 - AED 900,000,000 share capital
24 September 2008 - Aabar management changes
New Aabar CEO - Khadem Al Qubaisi is appointed as acting Chief Executive Officer (CEO) of Aabar. Mr Al Qubaisi was also appointed as Chairman of Aabar a week earlier
Dr Gerhard Roiss is appointed as Director of Aabar, replacing Mr Abubaker Seddiq Al Khouri who resigned effective 24 September 2008. Dr Roiss also has a number of postions in OMV Group, including deputy chairman of OMV Aktiengesellschaft in Austria.
17 September 2008 - Aabar new chairman and board member
New Aabar chairman is HE Khadem Al Qubaisi. Outgoing chairman is Mr Abdulhamid Mohammed Saeed
Ms Alyazia Ali Saleh Al Kuwaiti is appointed to the board of Aabar. She is the first female member of the Aabar board. Ms Al Kuwaiti is a Manager of Investment Evaluation and Execution at IPIC, and is Deputy Chairwoman at OMV Aktiengesellschaft in Austria.
22 May 2008 - Aabar name change
Aabar new name -
changed from Aabar Energy PJSC to Aabar Investments PJSC - approved
by Aabar shareholders. Previous name before that was Aabar Petroleum Investments
Company PJSC (Aabar renamed July 2007)
29 April 2008 - New chairman?
Aabar AGM 28 April 2008 appointed Abdul Hamid Saeed / Abdulhamid Mohammed Saeed as chairman until 2010,
apparently replacing Suhail Al Mazroui?
01 March 2008 - Pearl Energy and Dalma Energy sale
Dalma Energy - 100% sold 17 December 2007 for AED 1.6 billion
Pearl Energy - 100% sale to Mubadala (for AED 3.0612 billion subject to
working capital adjustment) approved at EGM 09 March 2008, sale & purchase
agreement signed 20 April 2008, completion expected later in 2008.
12 February 2007 - new Aabar CEO
New CEO David K Woodward appointed 01 February 2007 to replace
Suhail Faris Ghanim Al Mazroui
(Mr Al Mazroui is still Chairman). Mr Woodward also became a member of the board
from 12 February, replacing Rashed Saif Jabar Al Suwaidi.
29 July 2007 Aabar to sell Dalma Energy subsidiary
News first surfaced at the beginning of July 2007 that Aabar would sell Dalma Energy. At the end of July, Aabar announced that Dalma would be sold to GulfCap for about AED 1.6 billion ($US 446 million), pending shareholder approval in a meeting 19 Aug 2007. The money from the sale would be used to pay down debt and fund further exploration and production.
27 November 2006
07 November 2006 - Dalma Energy new oil rigs announced with an $80m investment, to add to the 18 it already operates - 7 in Saudi Arabia, 8 in Oman, 2 in India and 1 in Qatar. Dalma also recently opened offices in Libya (which was selling oil licenses in late 2006). Dalma claims a rig utilisation of 100%. The 2006 ReedHycalog Rig Census survey says Dalma Energy's rig utilization in 2006 so far is 95% - up from 83% in 2005.
03 August 2006 - Pearl Energy (an AABAR subsidiary) one of three companies jointly awarded petroleum contract for Block 06/94 in Vietnam.
Aabar established Mar 2005 or Jun 2005? Conflicting information seen.
July 2006 - AABAR profit for 2006Q2 is AED 36.6 million
July 2006 - AABAR owns 99% of Dalma Energy & Co LLC (which controls 11 oil rigs). As of July 2006, Aabar was in control of 26 oil rigs.
June 2006 - Pearl Energy Ltd, an exploration and production company based in Singapore was 100% bought out by AABAR in June 2006.
April 2006 - AABAR profit for 2006Q1 is AED 2.7 million (Zawya).
January 2006 - Aabar profit for 2005FY is AED 608 million - mostly due to interest from IPO deposits. Aabar actually made a loss on operations.
July 2005 - AABAR acquires Dalma Energy for AED 367 million. Dalma operates oil rigs in the Middle East region and had begun a $250 million expansion program in October 2004. Director of Dalma Energy is Khaled Ahmad Salem Al Ameri.
30 June 2006 - Aabar background
Aabar is an oil and gas exploration, production and drilling company headquartered
in Abu Dhabi and is a public joint stock company listed on the Abu Dhabi Securities
Market. Aabar has two divisions, Oman-headquartered Dalma Energy, and Pearl
Energy, which is engaged in exploration and production in Southeast Asia (update
March 2008 - both divisions have been sold). Aabar's net working interest
production currently stands at more 20,000 bopd from four fields in Indonesia
and Thailand. The group plans to drill 10-15 exploration wells in 2007. Full
name is Aabar Petroleum Investments Company PJSC.
April 2005 Aabar IPO
Aabar IPO launched in April 2005. At the time, it was IPO frenzy in the region and this was the most insanely oversubscribed IPO in the UAE (if not the world) at 800 times. Amount of money raised (almost AED 400 billion) was more than the annual GDP of the UAE. Aabar Petroleum was established to develop oil and gas installations in the Gulf region.
AABAR - related external links (open in new window)Top
www.sca.ae - ESCA profile. Includes share ownership details, board of director names, meeting dates, financial statements and annual report.
www.adx.ae - ADX financial disclosures, news and information.
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