Mubadala Sells Petrofac JV Stake
Mubadala Development, the state-owned Abu Dhabi conglomerate with extensive energy interests in the UAE and overseas, is selling its 51% interest in Petrofac Emirates to local firm Nama Project Services for an undisclosed sum. Subsequently Petrofac bought a 26% stake from Nama, taking Petrofac’s share up to 75%
Petrofac Emirates was formed in 2008 as a joint venture (JV) grouping Mubadala with UK-listed engineering...