Mubadala unit receives funding for Israel’s Tamar gas field deal

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A subsidiary of Abu Dhabi’s Mubadala Investment Company received $720 million in funding from a banking consortium to complete the acquisition of a stake in Israel’s Tamar gas field, Al Arabiya reported on Friday.

Al Arabiya said the banking consortium includes Abu Dhabi Commercial Bank, Deutsche Bank and HSBC among other Israeli, Chinese, Japanese and European lenders.

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On March 28, the company paused investments in Russia, which represent less than one percent of its portfolio, because of the Ukraine crisis, the chief executive of the $243 billion sovereign wealth fund said.

This is the first comment by the top executive of Mubadala, Abu Dhabi’s second biggest sovereign fund, about its Russian investments after Russia’s invasion of Ukraine, which Moscow calls a “special military operation.”

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