Mubadala plans aerospace, energy buys
Singapore, February 19, 2008
Mubadala Development Company, Abu Dhabi's investment vehicle that manages over $10 billion of assets, is planning further acquisitions in aerospace, energy and real estate firms, an executive said on Tuesday.
Mubadala chief operating officer Waleed Al Muhairi said the fund was not planning further buys in financial institutions, but could slightly raise its 7.5 per cent stake in the Carlyle Group.
Mubadala has diversified stakes in energy, telecommunication, aerospace, automotives, healthcare, real estate and ship building sectors.
Since last September, a slew of sovereign wealth funds have bought up stakes in the ailing US financial sector.-Reuters