ADNOC and Apollo-led consortium close $5.5 billion real estate investment partnership

ADNOC retains a 51 percent majority stake in its $5.5 billion real estate investment partnership. (AFP file photo)
Updated 29 September 2020

ADNOC and Apollo-led consortium close $5.5 billion real estate investment partnership

  • Closing takes the combined investment in select ADNOC real estate assets by the investor consortium to $2.7 billion

DUBAI: The Abu Dhabi National Oil Company (ADNOC) said on Tuesday it closed its $5.5 billion real estate investment partnership with entities owned and/or advised by Apollo Global Management Inc. subsidiaries and a group of institutional investors.
The closing takes the combined investment in select ADNOC real estate assets by the investor consortium to $2.7 billion, the company said in a statement.
The Apollo-led consortium collectively holds a 49 percent stake in Abu Dhabi Properly Leasing Holding Company RSC Limited. ADNOC retains a 51 percent majority stake, according to the statement.


Russia proposes new missile verification regime with US after demise of treaty

Updated 46 min 41 sec ago

Russia proposes new missile verification regime with US after demise of treaty

  • The United States withdrew from the 1987 Intermediate-Range Nuclear Forces Treaty last year

MOSCOW: The Kremlin on Monday proposed that Russia and the United States agree not to deploy certain land-based missiles in Europe and introduce mutual verification measures to build trust following the demise of the INF nuclear arms control treaty.
The United States withdrew from the 1987 Intermediate-Range Nuclear Forces Treaty last year, accusing Moscow of violating it, a charge denied by the Kremlin.
Global nuclear arms control architecture has come under further strain since then as the former Cold War foes have been unable to agree on a replacement to New START, another major arms control pact that is due to expire in February 2021.
On Monday, the Kremlin suggested “de-escalation” measures, such as allowing Russia to conduct checks on the US Aegis Ashore system in Europe, and the United States to check Russia’s 9M729 missiles in facilities in the exclave of Kaliningrad.
“We propose all interested sides to consider concrete options for mutual verification measures to remove existing concerns,” the Kremlin said in a statement on its website.
The INF pact had prohibited land-based missiles with a range of 310-3,400 miles, reducing the ability of both countries to launch a nuclear strike at short notice.