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Abu Dhabi Government Orders Merging of Mubadala and IPIC

Source: Reuters 6/29/2016, Location: Middle East

The Abu Dhabi government has ordered the merging of state investment funds Mubadala Development Company and International Petroleum Investment Company, according to a statement carried by the state news agency.

"The merger of the two companies augments the investment advantages and economic revenue for Abu Dhabi, and creates a body capable of achieving the highest level of integration and growth in multiple sectors, including energy, technology and space industry," the agency said.

A committee headed by Deputy Prime Minister Sheikh Mansour bin Zayed al-Nahayan will oversee the merger, the statement added without giving a timeframe for when the combination would be completed.

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Related Categories: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Industrial Development  Insurance  Investment  Mergers and Acquisitions  Risk Management 

Related Articles: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Insurance  Investment  Mergers and Acquisitions  Risk Management 


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