ABU DHABI: The merger of Abu Dhabi state funds Mubadala Development Co and International Petroleum Investment Co should be completed by the end of 2017, a source close to the discussions on the deal said on Wednesday.
The committee overseeing the process will study the deal for the next six to 12 months. The deal is being approached as a merger of equals, the source said, declining to be identified because of the sensitivity of the subject.
The combined entity will have a greater ability to borrow money on international markets and have a more balanced debt-to-equity ratio, the source added.
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