02102016Wed
Last update: Wed, 10 Feb 2016 03pm

Abu Dhabi's Waha Capital to invest $870 million cash bounty: CEO

Abu Dhabi investment firm Waha Capital plans to invest 3.2 billion dirhams ($872 million) in the short-term to grow its energy, healthcare and infrastructure portfolio, its chief executive said on Sunday.

Salem Rashid al-Noaimi spoke to Reuters after the firm posted an 88 percent increase in fourth-quarter net profit to 142.1 million dirhams and a more-than fivefold increase in annual profit to 1.73 billion dirhams, bolstered by deals around its investment in AerCap Holdings.

AerCap Holdings, in which Waha was the largest shareholder, bought American International Group's aircraft leasing business in a $5.4 billion cash and share deal that was completed in May.

Copyright Reuters, 2015