Aabar to buy additional UniCredit stock.
17 January 2012 - Abu Dhabi-based investor Aabar Investments PJS on Tuesday said it will raise its stake in UniCredit SpA (BIT:UCG) to around 6.5% via participation in a rights issue at the Italian bank.
The investment firm said in a statement that its fully-owned unit Aabar Luxembourg Sarl had entered into a number of transactions to buy the subscription rights for the additional UniCredit stock.
No financial terms were provided.
Aabar, seeking to invest in global market leaders, plans to remain among the lendera[euro](tm)s top shareholders following the ongoing rights issue and support UniCredita[euro](tm)s management and franchise, the buyera[euro](tm)s chairman, Khadem Al Qubaisi, said in the statement.
Morgan Stanley (NYSE:MS) acted as advisor to Aabar.Country: , ItalySector: Banking/Financial ServicesTarget: UniCredit SpABuyer: Aabar Investments PJS, Aabar Luxembourg Sarl Type: StakebuildingStatus: AgreedBuyer advisor: Morgan Stanley