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UAE's Aabar to take 32 pct stake in Virgin Galactic
July 28, 2009 / 6:15 AM / 8 years ago

UAE's Aabar to take 32 pct stake in Virgin Galactic

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.

Reporting by John Irish; Editing by Amran Abocar

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