UAE's Aabar to take 32 pct stake in Virgin Galactic
ABU DHABI, July 28
ABU DHABI, July 28 (Reuters) - Aabar Investments AABAR.AD said on Tuesday it will take a 32-percent stake worth $280 million in Virgin Group's VA.UL space unit Virgin Galactic.
In a filing on the Abu Dhabi bourse website, the investment firm said the deal was still subject to U.S. and other regulatory approvals, but said it had committed an additional $100 million to fund a satellite launch capability.
Aaabar, an investment vehicle of the Abu Dhabi government, plans to build a spaceport in the United Arab Emirates capital.
The deal gives it regional rights to host Virgin Galactic tourism and scientific reseach space flights, it said.
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