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FINANCIAL NEWS
Abu Dhabi’s Mubadala expects USD3.35b windfall
03 Jun 2014
(MENAFN) Abu Dhabi’s Mubadala Development Company is expected to raise multi-million dollars as the Britain-based RAC is expected to launch a listing which may double its value to around USD3.35 billion, according to Arabian Business.
RAC was bought by US-based private equity firm Carlyle Group USD1.67 billion in 2011 and it was reported by the Express newspaper that the firm was currently in the process of hiring investment banks ahead of a forthcoming listing.
Carlyle Group was founded in 1987 and currently owns USD31.5 billion-worth assets. Abu Dhabi investment vehicle Mubadala bought a 7.5 percent stake in it in 2007.
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