Aabar Investments, which has stakes in Daimler and Virgin Galactic, has obtained shareholders approval for a $2 billion convertible bonds sale to International Petroleum Investment Company (IPIC).
IPIC, wholly-owned by the government of Abu Dhabi, is the majority shareholder in Abu Dhabi-listed Aabar.
The convertible bonds will be issued at the conversion price of 2.5 dirhams ($0.681) per share, the firm said in a statement on its website.
Aabar has previously said the bonds were being issued for general corporate purposes, with a company official telling Reuters it would be used to fund the firm's expansion.
The company's assets grew over 11 times in value as total assets increased from Dh3.2 billion in 2008 to Dh37.3 billion in 2009.
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