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FINANCIAL NEWS
Mubadala sells stake in Sorbonne-Abu Dhabi developer
25 May 2011
(MENAFN) Mubadala Development reported selling all its shares in the developer and manager of the Abu Dhabi’s branch of Paris-Sorbonne University, reported The National.
In transferring 49 per cent of Manhal Development Company to Mubadala Infrastructure Partners (MIP), Mubadala said yesterday it was realising returns for the parent company while sharing the risk of the public-private venture with its partners. Mubadala Development is a strategic investment company owned by the Abu Dhabi Government.
The university on Reem Island was completed last August and is now fully operational.
Mubadala commented saying that this deal leaves the way for Mubadala to realize a commercial benefit while being in line with its strategy of sharing project risk with other parties at appropriate times.
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