UAE and Abu Dhabi investment fund, Mubadala Investment Company has acquired 1.9 per cent of Sibur; Russia’s largest integrated petrochemicals company, Zawya reports.
The fund did not provide details on the operation, but the investment is the fund’s largest in Russia.
Founded in 1995, Sibur services more than 1,800 customers in 100 countries globally.
“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.
The acquisition terms according to the UAE fund 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 manages a portfolio of assets valued at $243 billion. It has an office in Moscow run by a team of more than 22 specialists. The company says it 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.
Abu Dhabi-based Mubadala Investment Company acquires 1.9 per cent of Russia’s Sibur
