São Paulo – The chairman of Mubadala, an investment company based in Abu Dhabi, in the United Arab Emirates, Waleed Al Muhairi, met last Monday with the Brazilian minister of Development, Industry and Foreign Trade, Fernando Pimentel. The information was confirmed this Thursday (28th) by the ministry’s press office.
On the occasion, Muhairi told the minister that the company has US$ 13 billion available to invest in Brazil, in the fields of oil and gas, aluminium, semiconductors, infrastructure and aerospace.
According to the ministry, the meeting was called by the Arab fund, which is prospecting areas of its interest in investing in Brazil. Still according to the ministry’s press office, Muhairi should return to Brazil next month to seek investment opportunities in the agribusiness sector.
In May 2010, during a visit of the Arab Brazilian Chamber of Commerce‘s Foreign Trade vice-president, Wladimir Freua, to the Mubadala headquarters, executives of the fund had already declared themselves willing to invest in Brazil.
Mubadala was established in 2002 by the Abu Dhabi government to handle the diversification of the emirate’s investments. The fund owns stakes in companies such as the United States-based AMD, for semiconductors, and GE, as well as in businesses in the energy, industry, healthcare, infrastructure, real estate, finance, aerospace, communication and services sectors.
In March, the company announced its 2010 results. According to information from the company site, its revenues reached 16 billion dirhans (US$ 4.4 billion at current exchange rates) last year, a 22% increase over 2009. Its net profit reached 1.1 billion dirhans (US$ 300 million).
According to its website, by the end of last year, Mubadala had 105.1 billion dirhans (US$ 28.6 billion) in assets and 61.1 billion dirhans (US$ 17 billion) in stakes.
*Translated by Gabriel Pomerancblum
