21.03.2016 - Abu Dhabi fund signals committed to Brazilian investments
Abu Dhabi state fund Mubadala Development signalled on Friday that it was committed to investments in Brazil despite political protests, economic crisis and a graft probe there. Mubadala has opened an office in Rio de Janeiro to manage and grow its Brazilian assets after restructuring a $2 billion investment in collapsed EBX Group, the fund said in a statement. The Abu Dhabi fund launched the restructuring in early 2013 as EBX, a group controlled by former Brazilian billionaire Eike Batista, ran into severe financial difficulties. Under the restructuring, the Abu Dhabi fund received $300 million in cash plus equity stakes in former EBX companies and other international assets, Mubadala said on Friday, adding that the total value of those assets exceeded the amount of the original investment...............................................Full Article: Source
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