Mubadala to acquire 20% stake in Bahrain’s Investcorp

28/07/2016 Argaam

Abu Dhabi-based Mubadala has inked a deal to acquire a 20 percent stake in Bahrain’s Investcorp, according to a company statement.

 

The two-step transaction will see Mubadala acquire a 9.99 percent stake immediately, with a further 10.01 percent following regulatory approvals.

 

Mubadala’s investment will strengthen Investcorp’s shareholder base, which includes investors from the UAE, Bahrain and Qatar, the statement said. The value of the investment was not specified.

 

Last month, the Abu Dhabi government ordered the merger of Mubadala with state investment fund International Petroleum Investment Co. (IPIC).

 

A committee headed by Deputy Prime Minister Sheikh Mansour bin Zayed al-Nahayan will oversee the merger, UAE’s state news agency WAM reported.

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