Abu Dhabi agrees multibillion-pound investment in British business | Financial Times
The United Arab Emirates has agreed a multibillion-pound investment partnership with the UK to invest in British health, technology, clean energy and infrastructure, delivering a significant post-Brexit boost to Prime Minister Boris Johnson.
As part of the deal, Mubadala, one of Abu Dhabi’s most active state funds, will pump £800m into the life sciences sector over five years alongside £200m from a British government fund. The investments in the other three selected sectors are expected to be of a similar or larger scale through to 2026, suggesting the overall investment could be up to £5bn.
Officials said the exact size of the total investment was not clear but that the $232bn Abu Dhabi fund “only deals in big numbers”. The partnership’s focus will now switch to tech, clean energy and infrastructure.
Lord Gerry Grimstone, the UK’s investment minister, told the Financial Times he was “expecting equal or better opportunities to be found in those sectors”. He added: “We think the future opportunities are very, very sizeable.”
Khaldoon al-Mubarak, Mubadala’s chief executive, said: “It will be a sizeable number, appropriate for these sectors in order for us to make the right scale and returns”.
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