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- Mubadala said to have paid $200 million for En+ stake
- Abu Dhabi fund now owns 2.86 percent of power and aluminum company
RIYADH: The Russian billionaire Oleg Deripaska’s ex-wife sold a 2.6 percent stake in the power and aluminum company En+ Group International to Abu Dhabi sovereign wealth fund Mubadala Investment Co.
Mubadala is paying about $200 million for the stake in the company founded by Polina Yumasheva’s former husband, Bloomberg reported citing unidentified people familiar with the matter.
The acquisition increases Mubadala’s stake in En+ to 2.86 percent on a fully diluted basis, the fund said in a statement. Yumasheva’s stake in EN+ will decline to 2.58 percent after the sale, according to a separate statement on Wednesday.
“EN+ has made significant progress in recent years, and is well positioned to generate sustainable value for stakeholders,” said Faris Sohail Al Mazrui, head of Mubadala’s Russia & CIS investment program.
This deal is among the biggest in Russia for Mubadala, which has $243 billion of assets under management. It has about $2 billion in joint investments with the Kremlin-run Russian Direct Investment Fund.