Refining & Petrochemicals Middle East

UAE’S Mubadala acquires 1.9% of Russia’s Sibur petrochemi­cal company


Abu Dhabi’s sovereign fund Mubadala Investment Company has announced that it has acquired a 1.9% stake in Russian petrochemi­cal company Sibur.

Mubadala, which manages a global portfolio of assets valued at $243 billion, has announced its largest ever investment in Russia. Sibur is the largest integrated petrochemi­cals company in Russia and is also regarded as one of the fastest-growing companies in global petrochemi­cals.

Founded in 1995, Sibur is the leader in the Russian petrochemi­cals industry, operating a balanced and integrated business model and servicing over 1,800 customers in 100 countries worldwide.

The company is currently transition­ing to an Esg-driven strategy and governance framework, which is expected to enable Sibur to develop into one of the most sustainabl­e industry market participan­ts.

The acquisitio­n terms were agreed prior to the recent merger with TAIF, which is bound to further enhance the company’s position in the polyolefin­s and rubbers markets, contribute to the pipeline of growth capex projects and unlock additional operationa­l synergies.

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 firstclass management team. Sibur’s merger with TAIF creates an even better-positioned player in the market that can capitalize on synergies and developmen­t opportunit­ies.”

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