UAE's Mubadala acquires 1.9% stake in Russia's Sibur

Mubadala has deployed more than $3bln and built up a portfolio of about 50 investments in Russia

  
An investor looks up at electronic boards displaying stock information at the ADX Abu Dhabi Securities Exchange stock market

An investor looks up at electronic boards displaying stock information at the ADX Abu Dhabi Securities Exchange stock market

REUTERS/Stringer

Abu Dhabi sovereign investor Mubadala Investment Company has made its largest investment in Russia with the acquisition of a 1.9 percent stake in Sibur, the largest integrated petrochemicals company in Russia

The sovereign investor did not disclose the details of the deal.

Founded in 1995, Sibur services more than 1,800 customers in 100 countries globally,

According to a statement from Mubadala, the acquisition terms were agreed prior to the recent merger with TAIF, which is bound to further enhance the company’s position in the polyolefins and rubbers markets, contribute to the pipeline of growth capex projects and unlock additional operational synergies.

“Mubadala and Sibur have had a long-standing partnership since 2015. Sibur’s track record of delivering complex large-scale projects and creating shareholder value is a testament to its first-class management team. Sibur’s merger with TAIF creates an even better-positioned player in the market that can capitalize on synergies and development opportunities," Faris Sohail Al Mazrui, Head of Mubadala’s Russia and CIS Investment Program, said.

Mubadala manages a portfolio of assets valued at $243 billion. It has an office in Moscow run by a team of more than 22 specialists. Mubadala has deployed more than $3 billion and built up a portfolio of about 50 investments in Russia in sectors such as infrastructure, real estate, commodities, banking, logistics and technology, the statement said. 

(Writing by Seban Scaria; editing by Daniel Luiz)

(seban.scaria@refinitiv.com)

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© ZAWYA 2021


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