Merger of Abu Dhabi's IPIC and Mubadala creates $125-bn behemoth giant

Petroleum & petrochemicals business to account for about 31% of the merged entity

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Khaldoon Khalifa Al Mubarak, MD, Mubadala Investment

BS B2B Bureau Abu Dhabi, UAE

Last Updated : Feb 20 2017 | 2:25 PM IST

Government of Abu Dhabi has merged two leading domestic companies - International Petroleum Investment Company (IPIC) and Mubadala Development Company – to create Mubadala Investment Company, a firm wholly-owned by the government. The merger is a strategic decision intended to create an international investment powerhouse for Abu Dhabi.

The new company, which will be valued at approximately AED 460 billion ($ 125 billion), will be organised across four investment platforms of significant scale: petroleum & petrochemicals; technology, manufacturing & mining; aerospace, information & communications technology, & renewables; and alternative investments & infrastructure.

The company’s four investment platforms will help accelerate diversification of

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