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Sovereign Wealth Funds Briefing - Categorized | Investment

Mubadala seeks Dubal stake in strategic move

Posted on 10 March 2011

From Gulfnews.com: Abu Dhabi-based Mubadala Development Company has offered to buy shares in the state-owned industry giant Dubai Aluminium Company (Dubal) to form a holding company that includes Emirates Aluminium Company (Emal) and create a production capacity of 2.5 million tonnes annually, according to a top government official.
“Until now no percentage [of shares] was specified but I think it’s a good share,” Shaikh Hamdan Bin Rashid Al Maktoum, Deputy Ruler of Dubai and UAE Finance Minister and Chairman of Dubal, yesterday said at a press conference on Dubal’s annual results……………………………………….Full Article: Source


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