Mubadala Development Co., an Abu Dhabi investment firm with stakes in GE and Carlyle agreed today to pump US$2 billion into Brazil’s EBX Group, looking to tap into the growing South American market.
According to the Washington Post, EBX plans to use the fresh funds to strengthen its financial position and pay for new business ventures (Brazilian Bubble can’t keep wondering what new jet or sports car Eike intends to buy with this new fresh money… if he needs ideas, we vote for an Airbus A380 with the word “Eike” in its external body, gold-painted of course).
Mubadala is owned by the oil-rich government of Abu Dhabi, capital of the United Arab Emirates and the largest and wealthiest of the federation’s seven city-states. It is one of several companies the emirate uses to invest its oil wealth. It has traditionally focused on investments that can help diversify the sheikdom’s economy.
The Gulf’s deep-pocketed investors have traditionally overlooked Latin America in favor of acquisitions in the United States, Europe and Asia. That could be changing.
Source: Washington Post