- 23 August 2016
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Bain & Company and Landor Associates have secured a contract from the Abu Dhabi government to advise the merger between sovereign wealth funds International Petroleum Investment Co. (IPIC) and Mudabala Development Company, Gulf News reported 16 August.
“Both entities have signed contracts and started work,” Gulf News reported a source as saying. The merger is due to be completed by the end of next year.
The government of Abu Dhabi decided in June to merge the two companies. The merger will be overseen by a joint committee chaired by Shaikh Mansour Bin Zayed Al Nahyan. Al Nahyan is deputy prime minister and the minister of presidential affairs.
Each of the companies own assets amounting to around $65 billion. The merger aims to “realize synergies” in several sectors, including energy, healthcare, real estate, and technology, The Financial Times reported in June.
With Bain in charge of business strategy and Landor, a U.S.-based brand consulting firm, serving as branding adviser.
Jax Jacobsen for Consultor.news