Mubadala restructures its Investment in EBX Group

Abu Dhabi / WAM

Mubadala Development Company has confirmed that it has finalised the restructuring of its $2bn preferred equity investment in the EBX Group, and opened an office in Rio de Janeiro to manage its investment portfolio in Brazil.
Mubadala initiated the restructuring process in early 2013 when the EBX Group was unable to meet certain obligations under the terms of Mubadala’s original investment. Through a series of restructuring transactions completed between 2013 and 2016, Mubadala received a combination of cash payments, equity interests in former EBX Group companies and other international assets in exchange for retiring the preferred equity investment in EBX.
Carlos Obeid, chief financial officer of Mubadala, commented, “The completion of this complex restructuring has enabled us to gain a portfolio of assets which hold attractive, long-term value in sectors aligned with and complementary to core Mubadala businesses, such as metals and mining, infrastructure and real estate.”