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Sovereign Wealth Funds Briefing - Categorized | Market

Mubadala, ICD merge to create $ 15 bln aluminum entity

Posted on 04 June 2013

Mubadala Development Company of Abu Dhabi and the Investment Corporation of Dubai (ICD) have announced the creation of $ 15 billion worth Emirates Global Aluminum (Emal), which will be the fifth-largest global aluminum company by production once Emal Phase II is complete in H1, 2014.
The new move, a jointly-held equal-ownership company, will integrate the businesses of Dubai Aluminum (DUBAL) and Emirates Aluminum with plans for significant local growth and international expansion. Both companies were discussing the merger of their smelters for more than six years………………………………………..Full Article: Source


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