The Mubadala fund intends to create a new stock exchange in Brazil. The group of investors is under the command of the Royal Family of Abu Dhabi, from the United Arab Emirates.
The idea is to rival B3 — currently operating in Brazil, it is the largest in the segment in all of Latin America. Oscar Fahlgren, president of Mubadala operations in the country, confirmed the project in an interview with the newspaper Financial Times, granted last Sunday, 5th.
“Brazil is a very large country, it only has one stock exchange and I think this is a suboptimal infrastructure for investors. players that operate in this segment,” said Fahlgren. According to the executive, the new market could begin operating next year with shares, and no asset is out of the question.
Mubadala in Brazil
Mubadala’s appetite for Brazil is not restricted to a new exchange. The fund has several assets in the country. The list includes, for example, stakes in Prumo Logística, Porto do Sudeste and the Rota das Bandeiras group of highways.
Furthermore, the fund holds the majority of shares in Zampthe company that controls the Burger King and Popeyes restaurants in Brazil, owns the company responsible for organizing the São Paulo Formula 1 Grand Prix and is the owner of Acelen — a company specialized in oil refining in Bahia in which the group announced a billion-dollar investment to produce biofuels.
