Nexen Tire and Mubadala Investment Company have signed a Memorandum of Understanding (MoU) under which the two companies will explore strategic partnership opportunities. As part of this, Mubadala has also invested in Nexen.
Waleed Al Mokarrab Al Muhairi, deputy group CEO and CEO of alternative investments and infrastructure, Mubadala, said, “As a high performing business with significant global growth potential, Nexen Tire represents an interesting investment opportunity for Mubadala Investment Company.
“Our investment approach prioritizes partnership with best-in-class global organizations as a key driver of creating lasting value for our shareholder. We look forward to exploring opportunities with Nexen Tire.”
In addition to the equity investment, Mubadala and Nexen will explore a broader range of business initiatives, including potential further investment as well as wider cooperation in Nexen Tire’s overseas expansion. The parties will also cooperate in other areas such as future automotive technology linked to the Fourth Industrial Revolution.
August 2, 2017
