Mubadala invests $235m in German pharmaceutical firm

SourceArabian Business
SectorFinancial Services
CountryUnited Arab Emirates

Abu Dhabi fund buys 5.6% stake in Evotec as part of plans to expand its portfolio Mubadala Investment Company will invest 200 million euros ($235 million) in German pharmaceutical company Evotec as part of the Abu Dhabi wealth fund’s plans to expand its portfolio. Mubadala, which manages $232 billion in assets, is among Gulf sovereign funds plowing their oil and natural gas wealth into technology to lessen their reliance on crude and help diversify their economies. Aramex will provide next day delivery for Imperial College London Diabetes Centre, Healthpoint and Cleveland Clinic Abu Dhabi The fund has said over the past few years that it’s looking to boost its investments in technology. It will subscribe to 9.2 million Evotec shares, taking about a 5.6 percent stake in a private placement, according to a statement. The more...