Arabtec scraps plan to sell stake to Aabar
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Arabtec scraps plan to sell stake to Aabar

Arabtec scraps plan to sell stake to Aabar

UAE-based construction company Arabtec Holding and government-controlled Aabar Investments have decided to end a plan in which Aabar would buy a 70% stake in Arabtec. 'The parties have agreed that they will no longer purse the original transaction and will terminate the acquisition documents' as of today, Arabtec and Aabar said in separate statements posted on local bourse Web sites today. 'The parties have agreed that they will continue to work together in good faith towards future cooperation and forming a strategic partnership in Abu Dhabi in the future.'

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