Abu Dhabi Sheikh reportedly invests $1 Bn in Lulu Group International. An investment firm backed by Sheikh Tahnoon Bin Zayed Al Nahyan is said to be the funder. Reports say the company acquired 20% stake in Yusuff Ali-led Lulu Group. Lulu Group runs one of Middle East’s largest hypermarket chains. Abu Dhabi is now investing in local businesses to diversify its economy. Sheikh Tahnoon is the chairman of Royal Group and First Abu Dhabi Bank PJSC.
