March 21, 2018 / 9:39 AM / 8 months ago

ADIC to join Mubadala group as Abu Dhabi consolidates funds

ABU DHABI, March 21 (Reuters) - Abu Dhabi Investment Council, an investment arm of the super-rich emirate’s government, will join the Mubadala group as Abu Dhabi consolidates hundreds of billions of dollars worth of funds under its control.

“An investment vehicle of such scale will enhance the country’s competitive position,” Abu Dhabi Crown Prince Sheikh Mohammed bin Zayed said as he revealed the plan on his official Twitter account on Wednesday. (Reporting by Stanley Carvalho; Writing by Andrew Torchia)

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