Abu Dhabi’s Mubadala Buys 2.6% En+ Stake

Mubadala Investment Company, an Abu Dhabi-based sovereign investor, announced the acquisition of a 2.6% stake in EN+. EN+ is a global leader in low-carbon aluminium production and renewables.

Mubadala is paying about $200 million for the stake in the company founded by Polina Yumasheva’s former husband, Bloomberg reported citing unidentified people familiar with the matter.

Mubadala’s $243 billion global portfolio spans six continents with interests in multiple sectors and asset classes, including significant investments in Masdar, a global leader in renewable energy.

Mubadala’s total share ownership in EN+ now stands at 2.86 percent on a fully diluted basis.

Faris Sohail Al Mazrui, Head of Mubadala’s Russia & CIS Investment Program, said “EN+ has made significant progress in recent years, and is well positioned to generate sustainable value for stakeholders. The company is a market leader in the clean energy sectors, and is a welcome addition to Mubadala’s growing and successful portfolio in Russia.”

Lord Barker of Battle, Executive Chairman of the En+ Group, said: “We are pleased to have Mubadala increase their stake in EN+. It is a clear endorsement of the strength of the Company’s equity story to attract such a leading global investor. Mubadala, which is committed to investments with positive and lasting impact, provides a further vote of confidence in the Group’s ambitious strategy to lead our sector into the low-carbon economy.”