Search Results for:Stanley Carvalho
Authorities in the United Arab Emirates have issued arrest warrants for the founder of private equity firm Abraaj and another executive for issuing a cheque without sufficient funds.
Air Arabia, a Dubai-listed low-cost carrier, said this week it had a $336-million exposure to Abraaj. Shares in the airline plunged because of its links to the company.
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.