Hasan Ismaik agreed in principle to divest at least part of his stake in Arabtec Holding P.J.S.C. (DFM:ARTC) to Aabar Investments PJS, Reuters reported. A source close to Hasan Ismaik said: "Ismaik has finalized the sale of a stake in Arabtec to Aabar. The deal will be announced soon." Al Arabiya had reported earlier that Hasan Ismaik had agreed to divest half of his holdings at a price of between AED 5.00 and AED 5.50 per share.

Arabtec's shares rose by 3.7% percent to AED4.77 on Dubai's bourse.