Aabar Investments of Abu Dhabi is proceeding talks with Red Bull for a collaboration in joint activities of Red Bull?s corporate projects. The colloboration, however, is not applicable on Red Bull?s Formula One teams or its beverage business. Aabar is a government-owned investment firm, while Red Bull is a popular Austrian energy drink giant. Aabar executives, however, is not revealing the exact nature of the deal.
Falcon Private Bank, is a Swiss bank owned by Aabar, made a deal to have its logo on the Red Bull?s Formula One team cars.
According to Mohamed al Husseiny, the chief executive of Aabar, said that Red Bull is an outstanding company with a global presence. Aabar is confident of a fruitful collaboration and hope to benefit from the deal. Red Bull?s strategy to promote its beverages is through sponsoring sporting events and teams. Apart from the Formula One teams, it also owns the Red Bull Air Race World Championship, which commenced in the year 2005.
Apart from?sponsoring sporting events, it?also conducts aggressive advertising campaigns for sports such as snowboarding, surfing, and skateboarding. Aabar and Red Bull have deep ties to the Formula racing. Aabar is partly owner of Mercedes GP team, while Red Bull has its own. Aabar is also?the single largest share holder (40 per cent) ?in Daimler.