Mubadala acquires 2.6% stake in En+

Dubai: Mubadala Investment Company, an Abu Dhabi-based sovereign investor, today announced the acquisition of a 2.6 per cent stake in En+, a low-carbon aluminium production and renewables company. Mubadala’s total share ownership in En+ now stands at 2.86 per cent on a fully diluted basis.

The new block acquisition equates to 16,641,700 of En+ ordinary shares. The company is listed on the Moscow Stock Exchange, while its GDRs are tradeable on the London Stock Exchange.

“En+ has made significant progress in recent years, and is well positioned to generate sustainable value for stakeholders,” said Faris Sohail Al Mazrui, head of Mubadala’s Russia & CIS investment program. “The company is a market leader in the clean energy and aluminium sectors, and is a welcome addition to Mubadala's growing and successful portfolio in Russia.”

Lord Barker of Battle, executive chairman of the En+ Group, said: “We are pleased to have Mubadala increase their stake in En+. Mubadala, which is committed to investments with positive and lasting impact, provides a further vote of confidence in the group’s ambitious strategy to lead our sector into the low-carbon economy.”

Mubadala’s $243 billion global portfolio spans six continents with interests in multiple sectors and asset classes, including significant investments in Masdar, a global leader in renewable energy, and Emirates Global Aluminium, a leading aluminium producer.