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  • 01-04-21

    Abu Dhabi state fund Mubadala sells USD953 million stake

    (MENAFN)According to a statement of the fund, Abu Dhabi state fund Mubadala sold a 3.5 billion dirham (USD953 million) stake in property developer Aldar to a supplementary of investment firm Alpha Dhabi Holding.

    It further stated that the subsidiary, Sublime Commercial Investment, obtained a 12.21 percent strategic stake in Aldar. It added that Mubadala is going to remain Aldar’s largest shareholder with 25 percent.

    The statement also declared that “Institutional investor interest in Aldar reflects confidence in the Abu Dhabi real estate sector and Aldar’s central role in implementing the Emirate’s economic diversification strategy.”

    Reuters quoted sources as saying that the fund had sold part of its holdings in Aldar.

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