Mubadala Investment Co is being formed through a merger of Mubadala Development Co and International Petroleum Investment Co, which own corporate stakes in the energy industry and other sectors in the United Arab Emirates and around the world.
The company will help to diversify the Abu Dhabi economy beyond oil through strategic investments at home and abroad, Khaldoon Khalifa al-Mubarak said in a statement.
Mubarak said the fund will have four investment platforms - petroleum and petrochemicals, alternative investments and infrastructure, technology, manufacturing and mining, and aerospace, information and communications technology and renewables.
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