The state investor said the deal is in line with its strategy to create long-term value by optimizing a global portfolio of investments.
Mubadala Investment Company has sold a 7.6 per cent stake in Abu Dhabi Islamic Bank (ADIB) to Emirates International Investment Company (EIIC), a subsidiary of investment firm National Holding.
EIIC was already ADIB’s top shareholder and the acquisition of a 7.6 per cent stake from Mubadala takes its shareholding to 47 per cent of the Shariah-complaint lender.
The transaction signaled “strong confidence in the prospects for the long-term growth of the UAE’s second largest Islamic lender by assets,” Mubadala and National Holding said in a joint statement.
Mubadala said the deal is in line with its strategy to create long-term value by optimizing a global portfolio of investments across a variety of sectors. The Abu Dhabi state investor said it remains committed to the UAE banking sector as one of the largest investors in the sector.