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FINANCIAL NEWS
Mubadala to launch new subsidiary in Abu Dhabi
13 May 2014
(MENAFN) Mubadala, the Abu Dhabi government-owned investment vehicle, has announced the launch of its new engine subsidiary in the third quarter of this year, according to Gulf News.
Homaid Al Shemmari, Chief Executive Officer of Mubadala Aerospace and Engineering, said: “We are working on the registration. It should be [done] in the next few months.”
Mubadala will launch the new company as part of its deal of selling its aircraft maintenance, repair and overhaul (MRO) subsidiary, Abu Dhabi Aircraft Technologies (Adat), to fellow Abu Dhabi government owned company Etihad Airways.
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