Vision for a merged Ipic and Mubadala takes shape | The National:
"The Minister of Energy, Suhail Al Mazrouei, yesterday said he sees big growth opportunities, especially for petrochemicals, in the merger of Mubadala Development Co and International Petroleum Investment Co (Ipic).
"The merger will create an opportunity for us to consolidate our efforts and to forge partnerships that would be capable of enhancing global competitiveness and opening new markets for us and our companies," said Mr Al Mazrouei, who is also the managing director of Ipic and one of the triumvirate steering the merger through, with Mubadala Development’s chief executive, Khaldoon Al Mubarak, under chairman Sheikh Mansour bin Zayed Al Nahyan.
On the merger, the minister said: "Teams are working day and night and we hope we would be able to make the announcement by the end of the year.""
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