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  • Runway Angels

      The superbowl of fashion shows, models walk down the runway at the 2009 Victoria's Secret Show.

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  • A Healthier & Wealthier You

      Take the following quiz and find out how much you know about the impact of obesity on the health of the U.S. economy.

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  • Winterizing Your Portfolio

      If 2009 was the winter of our discontent, will 2010 be a winter wonderland for investors? A lot depends on the recovery—or lack thereof.

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      Some even say the long-awaited recovery is here. Regardless, buyers and sellers alike can profit from our guide.

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      Stocks and bonds? Sure. But it's a big world out there for investors.

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Abu Dhabi Buys 32% of Virgin Spaceship Firm
Published: Tuesday, 28 Jul 2009 | 5:17 AM ET
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By: AP

The Mideast investment fund with the biggest stake in Mercedes-Benz' parent is paying about $280 million to buy nearly a third of commercial space travel startup Virgin Galactic.

The investment will give Abu Dhabi's Aabar Investments a 32 percent stake and rights to eventually launch Virgin Galactic from the United Arab Emirates capital.

Aabar is the first outside investor in the spaceflight company, which has been owned fully by Richard Branson's Virgin Group. The deal values Virgin Galactic at about $875 million.

Aabar recently has emerged as one of Abu Dhabi's most active funds. It bought 9.1 percent of Mercedes-Benz maker Daimler in March, and earlier this month bought 4 percent of electric car producer Tesla Motors.

© 2009 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
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