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Japan’s Softbank Group will participate in the fund as a strategic investor via its subsidiary, SIMI US Holdings I, Inc, a statement from Mubadala said.
The business, Falcon Private Bank, is under investigation in Switzerland for allegedly failing to prevent suspected money laundering linked to 1MDB, the scandal-hit Malaysian state fund.
The dollar-denominated will become the first sovereign bond to be listed on the Abu Dhabi Securities Exchange (ADX) when the planned listing takes place.
Dubai-based Abraaj is considering selling some or all of the unit following a row with four investors.
Two other senior executives are also reportedly preparing to leave the investment firm. Abraaj is also learnt to be considering a round of job cuts.
The ONGC Videsh-led consortium picked up a 10% stake in ADNOC’s new Lower Zakum offshore concession, with a participation fee of $600 million.
Mubadala has committed $15 billion to SoftBank’s nearly $100-billion Vision Fund.
An IPIC spokesman confirmed the payment had been received.
Abu Dhabi has given 1Malaysia Development Berhad (1MDB) until August 31 to make a $603 million debt settlement payment that was due on Tuesday, an Abu Dhabi based source with knowledge of the matter said. Under an agreement struck in April with the Abu Dhabi state fund International Petroleum Investment… Read more »
Stake sale is part of ANZ’s strategy to divest minority stakes in Asia.