Aabar, UniCredit in Talks on Capital Move

ABU DHABI/MILAN - Abu Dhabi’s Aabar Investments PJSC is in talks to subscribe to about €60 million ($77.5 million) of UniCredit SpA’s €3 billion capital-strengthening measure, an Aabar official said on Friday.

By (Reuters)

Published: Sun 15 Feb 2009, 12:52 AM

Last updated: Sun 5 Apr 2015, 10:22 PM

“We are in discussions, evaluating the price but an agreement is not yet finalised,” a senior official at the company told Reuters, declining to be named due to company policy.

In Milan, a source close to the issue said a publicly traded Abu Dhabi company would subscribe to the convertible bond issue, called CASHES. The company should be Aabar, the source said.

Italian newspapers reported the Abu Dhabi subscription on Friday. Aabar, which is partly government owned, bought 3.3 per cent of Italian highway operator Atlantia SpA in December from UniCredit, Italy’s second-biggest bank by market value.The source said: “We’re talking about a fund that will subscribe a little less than 60 million euros of CASHES.”

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