An Abu Dhabi investment group has joined the race to put tourists in space by agreeing to buy a stake in the world's first commercial space travel operator, the two companies said on Tuesday.
Subject to regulatory clearance, Aabar Investments will buy about a 32 percent stake in the holding company of Virgin Galactic for $280-million, valuing the business at around $900-millions.
"The significant partnership not only falls in line with Abu Dhabi's larger plans to inculcate technology research and science at a grassroots level but also complements its aim to be the international tourism capital of the region," Khadem al-Qubaisi, chairman of Aabar, said.
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