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Abu Dhabi Buying Into General Electric

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A Persian Gulf sovereign wealth fund has agreed to an $8 billion partnership with General Electric in a deal that will make it one of GE's top ten shareholders. Abu Dhabi's Mubadala Development and GE are cooperating on a commercial finance division focussed on the Middle East and African markets. The deal anticipates further partnerships in aviation and clean energy research.
Each company will contribute $4 billion of equity to the partnership over three years. At the same time, Mubadala Development will buy at huge stake in GE, the world's twelfth largest company. Bank of America is the 10th largest shareholder of GE, with 1.2 per cent worth $3.3 billion at current prices. The largest institutional shareholder is Barclays Global Investors, which owns almost four per cent of GE.

Mubadala and GE in strategic partnership, $8 billion finance venture
[The National]