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Abu Dhabi state investor Mubadala has invested GBP350 million ($497 million) in IVC Evidensia, Europe’s largest veterinary care provider.
In a statement, Justin Sabet-Peyman, Head of Consumer at Mubadala, said the investment aligns well with its focus on investing in market leading consumer businesses in resilient and growing sectors.
“We are excited to be partnering with EQT, Silver Lake, Nestlé and IVC’s world-class management team to help drive the company’s continued leadership and innovation in pet care.”
Mubadala, which manages a $243 billion portfolio of investments, is the second largest sovereign investor in the UAE, after Abu Dhabi Investment Authority (ADIA).
IVC was originally acquired by EQT Private Equity in December 2016 and in May 2017 it merged with Evidensia, the Swedish veterinary group.
(Writing by Brinda Darasha; editing by Seban Scaria)
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