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Mubadala targets European dialysis clinic chain for $2.5bn

Mubadala Capital's Brazil Special Opportunities Fund II will invest in mature companies facing some form of complexity or distress Mubadala
Mubadala Capital's Brazil Special Opportunities Fund II will invest in mature companies facing some form of complexity or distress

Abu Dhabi’s Mubadala Investment Company is considering acquiring British private investment company Bridgepoint Group’s European dialysis clinic chain Diaverum for $2.5 billion.

The UAE sovereign wealth fund is among the final bidders competing to acquire Swedish Diaverum, Bloomberg reported, citing unnamed sources.

The names of the rival bidders were not given.

Bridgepoint is seeking a buyer after an earlier process to list or sell the business failed in 2020.

Bridgepoint took over Diaverum from Sweden-based Gambro Holding AB in 2007.

Earlier this month the Abu Dhabi sovereign fund partnered with primary investor Stone Point Capital and other investors to purchase a 20 percent stake for $1.95 billion in Truist Insurance Holdings, a subsidiary of Truist Financial Corporation.

This year Mubadala also bought US-based Dental Care Alliance, a dental services organisation with nearly 390 allied practices.

Mubadala’s $284 billion portfolio spans six continents with interests in multiple sectors and asset classes.

In December 2022, the fund’s CEO Khaldoon Al Mubarak said that 2023 would be a “tough year” for the global economy, but the fund would focus on opportunities serving a longer horizon.

As a global investor, he said Mubadala would continue to follow an “agnostic” investment approach looking at growth patterns and long-term sustainable returns.

On Wednesday, Sheikh Mansour bin Zayed Al Nahyan, vice chairman of Mubadala, was named UAE vice president and deputy prime minister of the UAE, alongside Sheikh Mohammed bin Rashid Al Maktoum, vice president, prime minister and ruler of Dubai.

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