Mubadala Is Said to Explore SR Technics Sale, Satellite IPO - Bloomberg Business

Mubadala Is Said to Explore SR Technics Sale, Satellite IPO - Bloomberg Business:

"Mubadala Development Co., the Abu Dhabi investment fund, is considering the sale of Swiss aircraft-maintenance business SR Technics and an initial public offering of Yahsat Satellite as the emirate reviews its largest state-owned companies, according to four people with knowledge of the matter.
The government-backed fund has held talks on the possible transactions with banks and any deal will depend on market conditions, the people said, asking not to be identified because the talks are private. Mubadala is also seeking the sale of a stake in U.S. chipmaker Globalfoundries Inc., one of the people said.
Abu Dhabi is reviewing its largest state-owned companies as a slump in oil pressures the emirate’s finances, people with knowledge of the matter said in November. The capital of the United Arab Emirates and source of about 6 percent of the world’s proven oil reserves may also tap the Abu Dhabi Investment Authority wealth fund and issue local and foreign debt to bridge a deficit wrought by lower crude prices, according to Fitch Ratings.
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