Mubadala Investment Company, the Abu Dhabi-based sovereign investor, has announced its largest investment in Russia.
The company, which manages a global portfolio of assets valued at $243 billion, said it has acquired a 1.9 percent stake in Sibur, the largest integrated petrochemicals company in Russia and one of the world’s fastest-growing.
Mubadala did not give a value to the investment.
Founded in 1995, Sibur services over 1,800 customers in 100 countries worldwide and is currently transitioning to an ESG-driven strategy and governance framework.
The acquisition terms were agreed prior to the recent merger with TAIF, which aims to further enhance the company’s position in the polyolefins and rubbers markets.
Faris Sohail Al Mazrui, head of Mubadala’s Russia and CIS Investment Program, said: “Mubadala and Sibur have had a long-standing partnership since 2015 and now we are excited to become shareholders in the company. Sibur’s track record of delivering complex large-scale projects and creating shareholder value is a testament to its first-class management team.
“Sibur’s merger with TAIF creates an even better-positioned player in the market that can capitalize on synergies and development opportunities.
“We have a lot of confidence in Sibur’s ability to navigate and transition the company to low-carbon economy and create lasting value for its investors,” he added.
In 2015, Mubadala invested in Sibur’s trans-shipment terminal in Ust-Luga.
Mubadala’s global portfolio also includes stakes in Borealis, a global leader in polyolefin production, and in Nova Chemicals, a plastics and chemicals producer in North America.
Mubadala is a long-term investor in the Russian economy, with an office in Moscow. Since entering the market in 2010, Mubadala has deployed over $3 billion and built up a portfolio of about 50 investments in sectors including infrastructure, real estate, commodities, banking, logistics and technology, resulting in strong financial returns.
Headquartered in Abu Dhabi, Mubadala has offices in London, Rio de Janeiro, Moscow, New York, San Francisco and Beijing.
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