Abu Dhabi-based Mubadala acquires 2.6% stake in EN+

The new block acquisition equates to 16,641,700 of EN+ ordinary shares

  
Electronic boards displaying stock information are seen as investors look on on the floor of the ADX Abu Dhabi Securities Exchange stock market. Image used for illustrative purpose

Electronic boards displaying stock information are seen as investors look on on the floor of the ADX Abu Dhabi Securities Exchange stock market. Image used for illustrative purpose

REUTERS/Stringer .

ABU DHABI:  Mubadala Investment Company, an Abu Dhabi-based sovereign investor, today announced the acquisition of a 2.6 percent stake in EN+, a global leader in low-carbon aluminium production and renewables. Mubadala’s total share ownership in EN+ now stands at 2.86 percent on a fully diluted basis.

The new block acquisition equates to 16,641,700 of EN+ ordinary shares. The company is listed on the Moscow Stock Exchange, while its GDRs are tradeable on the London Stock Exchange.

Faris Sohail Al Mazrui, Head of Mubadala’s Russia & CIS Investment Program, said: "EN+ has made significant progress in recent years, and is well positioned to generate sustainable value for stakeholders. The company is a market leader in the clean energy and aluminium sectors, and is a welcome addition to Mubadala's growing and successful portfolio in Russia."

Lord Barker of Battle, Executive Chairman of the En+ Group, said: "We are pleased to have Mubadala increase their stake in EN+. It is a clear endorsement of the strength of the Company’s equity story to attract such a leading global investor. Mubadala, which is committed to investments with positive and lasting impact, provides a further vote of confidence in the Group’s ambitious strategy to lead our sector into the low-carbon economy."

Mubadala’s $243 billion global portfolio spans six continents with interests in multiple sectors and asset classes, including significant investments in Masdar, a global leader in renewable energy, and Emirates Global Aluminium, a leading aluminium producer.

© Copyright Emirates News Agency (WAM) 2021.


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