ABU DHABI- In his capacity as the Ruler of Abu Dhabi, President His Highness Sheikh Khalifa bin Zayed Al Nahyan has issued a law establishing Mubadala Investment Company.
As a public joint stock company, the new company will be an independent legal entity and enjoy financial and administrative independence and full legal capacity to exercise its activities and achieve its goals.
Stakes of the Government of Abu Dhabi in the Mubadala Development Company and International Petroleum Investment Company, IPIC, will be transferred to the new company so that each of the two companies will be wholly owned by the new company.
According to the law, the company will run operations in acquisition, development, construction, financing, operation and investment in various sectors.
The law also provided for some amendments to the law that had established IPIC, including the company's objectives, legal form, capital, management and its statute.
The law also included some amendments to the Emiri Decree regarding the establishment of the Mubadala Development Company, including the company's objectives, the legal form, capital, management and its statute.