Abu Dhabi-backed USD8b JV to sell debt assets to Blackstone
22 Jun 2015
(MENAFN) Mubadala GE Capital, an USD8 billion equal joint venture between Abu Dhabi’s Mubadala Development and General Electric Co, is set to sell its debt assets to Blackstone Group, Arabian Business reported.
Blackstone Group, the United States’ private-equity company, will pay cash for the debt, which accounts for 8 percent of Mubadala GE Capital’s total assets of USD5.5 billion.
Mubadala GE Capital was initially founded to invest globally in GE Capital-originated commercial finance assets, but afterwards, the company started studying options to exit most of its GE Capital operations.