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Thursday, 12 January 2017

Mubadala CEO expects to see more mergers in Abu Dhabi | Reuters

Mubadala CEO expects to see more mergers in Abu Dhabi | Reuters:
"More mergers are likely in Abu Dhabi as institutions there tie up in ways that are positive for their business, Khaldoon Khalifa al-Mubarak, group chief executive of Abu Dhabi state fund Mubadala, said on Thursday.

"There's an appetite for more mergers. I expect to see mergers continue in a positive way in Abu Dhabi," Mubarak told reporters. He did not elaborate on which firms might merge.

Last June, the Abu Dhabi government said it would merge Mubadala and another state fund, International Petroleum Investment Co, responding to the impact of low oil prices by pooling their investment power and consolidating operations. Mubarak said on Thursday that the merger was in its final stages and would be completed within weeks."

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