Mubadala Round Up
Mubadala round up: a dramatic 76 percent drop in profits reported for 2010, a new deal signed with Boeing, Mubadala Road Show to start up soon and a potential offer to buy a stake in Dubal
March 29, 2011 4:47 by Eva Fernandes
Speaking of Mubadala’s aerospace unit, the company has just recently signed a deal to supply parts for the 787 Dreamliners. Strata, which is wholly owned by Mubadala, has been subcontracted to produce wing flaps, known as spoilers, for the Boeing aircraft. A Mubadala spokesperson told Arabian Business “This is a significant milestone in our progress towards a full-service offering for local and international customers, such as Airbus and Boeing.”
In other Mubadala related news, the company is all set to kick off a global fixed income roadshow in London on April 6 which will see Barclays Capital, HSBC, National Bank of Abu Dhabi, Societe Generale CIB, and Standard Chartered Bank arrange meetings during the six day affair in the UAE, Europe, Asia, and the United States.
And finally, though this is just a tad old we thought we’d throw this supposed deal into mix anyway since we are all about Mubdala today. We are, of course, talking about the offer from Mubadala has offered to buy a stake in Dubai Aluminium (Dubal) to form a new holding company which will also include Emirates Aluminium Co (Emal) and will have a production capacity of 2.5 million tonnes annually. According to its Vice Chairman Ahmad Humaid Al Tayer, Dubal is currently valued at $7 billion. Although don’t take Kipp’s rather late word on the deal, for things are still in the speculation phase: Sheikh Mohammed told papers: “Until now no percentage (shares) was specified but I think it’s a good share. They are not negotiations, but offers.”
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