UAE’s Mubadala Targets Brazil for Energy Partnerships

Diana Kinch – Wall Street Journal, 6/20/2012

RIO DE JANEIRO–United Arab Emirates investment-and-development company Mubadala Development Co. is targeting large companies in Brazil to set up cooperation projects in the renewable-energy area, the director of a Mubadala unit said Wednesday.

“We have been interested in Brazil for some time. Brazil’s high on our agenda,” said Nawal Al-Hosany, director of Mubadala’s Masdar unit in an interview on the sidelines of the Rio+20 sustainable-development summit in Rio de Janeiro.

Last month, Mubadala purchased for $2 billion a 5.6% stake in Brazilian billionaire Eike Batista’s EBX group, which has interests in areas including energy, oil, mining and real estate.

Mubadala also is interested in health care, information technology, infrastructure and aerospace, Ms. Al-Hosany said.

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