Mubadala Development, a strategic investment company owned by the Abu Dhabi Government, is among the first to benefit from an initial public offering (IPO) announced yesterday by the Carlyle Group, a major global buyout firm.
Mubadala has invested hundreds of millions of dollars in Carlyle that will convert into a substantial publicly traded share if the listing is given the green light by regulators, according to documents released in Washington.
The conversion will give the Abu Dhabi company new Carlyle shares at a 7.5 per cent discount to the IPO price.
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