Mubadala

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Abu Dhabi Commercial Bank and Mubadala Enter Into A Repurchase Agreement for Shares of Aldar Properties PJSC

Abu Dhabi Commercial Bank (ADCB) and Mubadala Development Company PJSC (Mubadala) today confirmed that ADCB has made a secured loan to Mubadala pursuant to a repurchase agreement financing facility for shares of Aldar Properties PJSC (Aldar).

29 March 2012

Abu Dhabi Commercial Bank (ADCB) and Mubadala Development Company PJSC (Mubadala) today confirmed that ADCB has made a secured loan to Mubadala pursuant to a repurchase agreement financing facility for shares of Aldar Properties PJSC (Aldar).

Under the terms of the agreement Mubadala will transfer to ADCB 571.9 million Aldar shares, equating to approximately 14% of Aldar’s outstanding share capital. At maturity of the facility in April 2013 (or earlier if terminated prior to maturity), the shares will be transferred back to Mubadala.

This facility is part of Mubadala’s on-going financing strategy, enabling a source of funding on commercially favorable terms while maintaining Mubadala as a long-term shareholder of Aldar.

About Mubadala Development Company

Mubadala Development Company (Mubadala) is a catalyst for the economic diversification of Abu Dhabi. Established and owned by the Government of Abu Dhabi, the company’s strategy is built on the creation of partnerships and on long-term investments that deliver strong financial returns and tangible social benefits for the Emirate of Abu Dhabi and that contribute to the growth and diversification of its economy.

Mubadala brings together and manages a multi-billion dollar portfolio of local, regional and international investments and partners with leading global organizations to operate businesses across a wide range of industry sectors. These include semiconductor technology, aerospace, energy, healthcare, information communications and technology, infrastructure, real estate and hospitality, and services ventures.

About ADCB:

ADCB was formed in 1985 and as at 30 June 2011 employed over 3,813 people from 49 nationalities, serving over 480,000 retail customers and over 33,000 wholesale clients in 45 branches, 4 pay offices and 1 kiosk in the UAE and two branches in India. It is the third largest bank in the UAE and second largest in Abu Dhabi by assets, at AED 179 bn as at 30 June 2011.

ADCB is a full-service commercial bank which offers a wide range of products and services such as retail banking, wealth management, private banking, corporate banking, commercial banking, cash management, investment banking, corporate finance, foreign exchange, interest rate, currency, derivative and Islamic products, project finance and property management services.

ADCB is owned 58.08% by the Abu Dhabi Government through the Abu Dhabi Investment Council. Its shares are traded on the Abu Dhabi Securities Market. As at 30 June 2011, ADCB’s market capitalisation was AED 17 bn.

For media enquiries, please contact:

Ben Craddock
Mubadala Development Company
T: +971 50 9532 304
E:

Nicola McAlpine
Mubadala Group Communications
Tel: +971 50 616 8720
Email: