Mubadala Acquires 1.9% Stake In Sibur
Muhammad Irfan Published December 08, 2021 | 09:45 PM
ABU DHABI, (UrduPoint / Pakistan Point News / WAM - 08th Dec, 2021) Mubadala Investment Company, the Abu Dhabi-based sovereign investor managing a global portfolio of assets valued at US $243 billion, today announced its largest investment in Russia, the acquisition of a 1.9% stake in Sibur, the largest integrated petrochemicals company in Russia and one of the fastest-growing companies in global petrochemicals.
Founded in 1995, Sibur is the leader in the Russian petrochemicals industry, operating a balanced and integrated business model and servicing over 1,800 customers in 100 countries worldwide. The company is currently transitioning to an ESG-driven strategy and governance framework, which is expected to enable Sibur to develop into one of the most sustainable industry market participants.
The acquisition terms were agreed prior to the recent merger with TAIF, which is bound to further enhance the company’s position in the polyolefins and rubbers markets, contribute to the pipeline of growth capex projects and unlock additional operational synergies.
Faris Sohail Al Mazrui, Head of Mubadala’s Russia and CIS Investment Program, said: "Mubadala and Sibur have had a long-standing partnership since 2015 and now we are excited to become shareholders in the company. Sibur’s track record of delivering complex large-scale projects and creating shareholder value is a testament to its first-class management team.
Sibur’s merger with TAIF creates an even better-positioned player in the market that can capitalize on synergies and development opportunities.
We have a lot of confidence in Sibur’s ability to navigate and transition the company to low-carbon economy and create lasting value for its investors."
The transaction between Mubadala and Sibur builds on the established working relationship between the two companies. In 2015, Mubadala invested in Sibur’s transshipment terminal in Ust-Luga.
Mubadala’s global portfolio spans six continents with interests in multiple sectors and asset classes, including shareholding in Borealis, a global leader in polyolefin production, and in Nova Chemicals, a plastics and chemicals producer in North America.
Mubadala is a long-term investor in the Russian economy, with an office in Moscow run by a team of more than 22 experienced regional specialists. Since entering the market in 2010, Mubadala has deployed over US $3 billion, and built up a portfolio of about 50 investments in Russia in sectors as wide-ranging as infrastructure, real estate, commodities, banking, logistics and technology, resulting in strong financial returns.
Recent Stories
HEC reviews curricula for environmental sciences degree programme
ICC Asia looking forward to an action-packed Asia Cricket Week
Yuvraj Singh named ICC Men’s T20 World Cup 2024 Ambassador
Greece hands Olympic flame to 2024 Paris Games hosts
Two Kyiv hospitals evacuating over feared Russian strikes
World must act on neurotech revolution, say experts
Charles & Catherine's cancer diagnoses
Champions Alcaraz and Sabalenka through in Madrid Open
King Charles to resume some public duties during cancer treatment: palace
US defense chief announces $6 bn in security aid for Ukraine
Heavy rains cause damage to Spezand-Taftan railway track
Woman stabbed in Israel, attacker killed: police
More Stories From Middle East
-
UAE announces ‘Zero Bureaucracy Program’ to reduce bureaucracy
3 months ago -
COP28 President-Designate welcomes Transitional Committee agreement to operationalise Loss and Damag ..
6 months ago -
Global Media Congress 2023 to feature Co-Production Majlis as a new networking platform
6 months ago -
Young female athletes shine at Abu Dhabi World Youth Jiu-Jitsu Championship
6 months ago -
King of Jordan receives Abdullah bin Zayed and ministers participating in Arab coordination meeting
6 months ago -
Abdullah bin Zayed participates in coordination meeting of Arab foreign ministers, joint meeting wit ..
6 months ago
-
3rd annual conference of Emirates Society of Clinical Microbiology kicks off in Dubai
6 months ago -
SIBF 2023 hosts Nobel laureate to discuss emergence of ‘Afrofuturism’ in global discourse
6 months ago -
ALC announces winners of Kanz Al Jeel Award 2023
6 months ago -
SIBF turns spotlight on remarkable contributions of women
6 months ago -
Global assets in spot bitcoin ETFs hit $4.16 billion
6 months ago -
Rescuers struggle to find Nepal quake survivors as deaths reach 157
6 months ago