general-electric-forges-ties-with-abu-dhabis-mubadala

General Electric forges ties with Abu Dhabi's Mubadala

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. ôThe expectation is that Mubadala will become one of GEÆs top 10 institutional investors through the open market, as conditions allow,ö Mubadala and GE said in a joint statement. No further financial details were disclosed. GEÆs shares closed at $27.69 on Monday after falling 1.11%.

Over the next three years, the two firms will invest $4 billion of equity each to create a jointly owned global commercial financial services...
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