Abu Dhabi state investor Mubadala has bought a 2.6% stake in Russia’s En+ Group, which owns 56.9% in aluminum producer Rusal, Mubadala and En+ said on Wednesday.
Mubadala bought the stake from Polina Yumasheva, En+ said, the former wife of U.S.-sanctioned Russian businessman Oleg Deripaska.
Deripaska is a founder of Rusal and En+.
En+ “is a market leader in the clean energy and aluminum sectors, and is a welcome addition to Mubadala’s growing and successful portfolio in Russia,” Faris Sohail Al Mazrui, head of Mubadala in Russia, said in a statement.
Mubadala has a stake in Emirates Global Aluminum, which operates aluminum smelters in Abu Dhabi and Dubai.
Yumasheva’s stake in En+ fell to 2.58% after the deal, and En+’s free float rose to 12.3%.
The US Office of Foreign Assets Control (OFAC) has been notified of the sale, En+ added.
