Madrid, February 02, 2022.- COFIDES, the Spanish state-owned financial institution, and Mubadala Investment Company (Mubadala), the Abu Dhabi-based global sovereign investor, today signed a Memorandum of Understanding (MoU) that aims to identify potential co-investment opportunities in Spain and strengthen the economic and investment ties between the two nations.
The agreement was signed by Homaid Al Shimmari, Mubadala’s Deputy Group CEO and Chief Corporate & Human Capital Officer, and José Luis Curbelo, COFIDES’ Chairman.
The MoU will enable both institutions to explore business opportunities and investments of common interest, with a special focus on Spanish companies and their foreign subsidiaries, as well as investment funds, across a range of sectors including energy transition, sustainable mobility, transportation, circular economy, as well as digitalization, biotechnology, and agribusiness.
In addition, the two companies will share expertise and knowledge on opportunities that may arise from private or public stakeholders, including in the case of COFIDES, projects supported by the Next Generation EU funds in the context of Spain´s Recovery, Transformation and Resiliency Plan.
COFIDES´s Chairman, José Luis Curbelo, stressed the importance of this agreement to identify business opportunities that might result in strengthening the long-term competitiveness of Spanish companies operating domestically and abroad. He also noted that Spain´s Recovery, Transformation and Resiliency Plan provides an appropriate framework for backing innovative investments in activities and firms that will frame the economy of the years to come with a particular but not exclusive focus on pillars such as sustainability, energy transition and digitalization.
In addition to this, he also highlighted that the UAE offers investment opportunities in fields such as infrastructure and transportation, tourism, and renewable energies, in which COFIDES has a wide and long experience.
ABOUT MUBADALA INVESTMENT COMPANY
Mubadala Investment Company is a sovereign investor managing a global portfolio, aimed at generating sustainable financial returns for the Government of Abu Dhabi.
Mubadala’s $243.4 billion (AED 894 billion) portfolio spans six continents with interests in multiple sectors and asset classes. We leverage our deep sectoral expertise and long-standing partnerships to drive sustainable growth and profit, while supporting the continued diversification and global integration of the economy of the United Arab Emirates.
Headquartered in Abu Dhabi, Mubadala has offices in London, Rio de Janeiro, Moscow, New York, San Francisco and Beijing.
For more information about Mubadala Investment Company, please visit: www.mubadala.com
COFIDES, a State-owned company engaging in the management of State and third-party resources as well as its own funds, pursues several aims, that include the internationalisation of Spain’s economy; the promotion of economic development and reinforcement of the solvency of Spanish companies affected by COVID-19. In addition to the Spanish State, its shareholders include Banco Santander, Banco Bilbao Vizcaya Argentaria (BBVA), Banco Sabadell and Development Bank of Latin America (CAF).