Abu Dhabi Fund Mubadala to Invest $235 Million in Evotec - Bloomberg:
Mubadala Investment Co. will invest 200 million euros ($235 million) in German pharmaceutical company Evotec SE as part of the Abu Dhabi wealth fund’s plans to expand its portfolio.
Mubadala, which manages $232 billion in assets, is among Gulf sovereign funds plowing their oil and natural gas wealth into technology to lessen their reliance on crude and help diversify their economies. The fund has said over the past few years that it’s looking to boost its investments in technology.
It will subscribe to 9.2 million Evotec shares, taking about a 5.6% stake in a private placement, according to a statement. The shares were sold at 21.78 euros, a 3.4% discount to Evotec’s Oct. 12 close of 22.55 euros.
Novo Holdings will also invest 50 million euros to subscribe to 2.3 million shares in the company at the same price, taking its stake to about 11%. Evotec rose 2.4% to 23.10 euros on Tuesday.
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