Mubadala acquires 1.9% stake in Sibur, Russia’s largest petrochemicals company
Mubadala Investment Company, Abu Dhabi’s strategic investment arm, acquired 1.9 per cent stake in petrochemicals company Sibur for an undisclosed sum, marking the fund’s largest investment in Russia.
The deal takes forward the relationship between the two, which was forged after Mubadala invested in Sibur’s trans-shipment terminal in Ust-Luga in 2015.
“Mubadala and Sibur have had a partnership since 2015 and now we are excited to become shareholders in the company. We have a lot of confidence in Sibur’s ability to navigate and transition the company to low-carbon economy and create lasting value for its investors,” Faris Al Mazrui, head of Mubadala’s Russia and CIS Investment Programme, said in a statement on Wednesday.
Mubadala picked Sibur for its past performance in delivering complex large-scale projects, he said.
“Sibur’s [recent] merger with TAIF, [another Russian petrochemical major], creates an even better-positioned player in the market that can capitalise on synergies and development opportunities,” Mr Al Mazrui said.
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