Mubadala and IPIC Officially Merge
On January 21, 2017, Sheikh Khalifa bin Zayed Al Nahyan, the ruler of Abu Dhabi, issued a law creating the Mubadala Investment Company, a company wholly-owned by the government of Abu Dhabi. Mubadala Investment Company is now the parent entity of both the International Petroleum Investment Company (IPIC) and Mubadala Development Company and their respective assets. The 2017 law had formalized the June 29, 2016 announcement that IPIC and Mubadala Development agreed to merge.
Combined, Mubadala Investment Company has US$ 125 billion in assets, spanning in more than 30 countries. The merged entity will have 68,000 employees. The Mubadala Investment Company will be managed by Mubadala Development’s CEO Khaldoon al-Mubarak.
SWFI will report on more details.
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