M&A

General Electric forges ties with Abu Dhabi's Mubadala

By Sameera Anand | 23 July 2008
Keywords: ge | mubadala | swf | abu dhabi

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GE will partner with the sovereign wealth fund in areas such as clean energy, aviation and financial services, in a deal that will make Mubadala a top 10 shareholder in GE.

Abu Dhabi's Mubadala Development Company and General Electric yesterday announced a business cooperation agreement spanning several areas, including an $8 billion commercial finance joint venture.

Mubadala, which is characterised as a sovereign wealth fund, also plans to become a long-term shareholder in GE. “The expectation is that Mubadala will become one of GE’s top 10 institutional investors through the open market, as conditions allow,” Mubadala and GE said in a joint statement. No further financial details were disclosed. GE’s shares closed at $27.69 on Monday after falling ...

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