Mubadala and Ipic to merge
 

Mubadala and Ipic ... on the heels of the FGB/NBAD consolidation.

Abu Dhabi Plans Merger of Sovereign Funds Mubadala and IPIC - Bloomberg

Very good news. Hopefully this consolidation is a sign that we are finding the bottom.

Re: Mubadala and Ipic to merge
 

Please explain. Does that mean things can only go up? Because I am down at 70% of earnings. And my studio in Disco is empty for the first time in 4 years :(

Re: Mubadala and Ipic to merge
 

well, you never know. But when everyone starts consolidating you know that everyone is in trouble. Costs get cut and things improve.

Re: Mubadala and Ipic to merge
 

I am working for Mub. WHAT DOES THIS MEAN FOR ME

Re: Mubadala and Ipic to merge
 

Get ready for the dreaded 'surplus to requirements' talk :sneaky:

Save every penny, forget about the fancy car, lie low and hope for the best.

Re: Mubadala and Ipic to merge
 

They are the client, not my direct employer!

I don't know if this good or bad news..

Re: Mubadala and Ipic to merge
 

It might not be bad, but I can tell you it won't be good either.

Re: Mubadala and Ipic to merge
 

If the project is underway and is key to the look and feel of Abu Dhabi - like the Louvre for example, it will go ahead. if it's a new solar powered building that'll never get used (it needs clients to fill it) in Masdar, it probably won't.

Re: Mubadala and Ipic to merge
 

In fairness IPIC has had its back against the wall for a while - especially after the 1MDB debacle with the Malaysians.

I assume Mubadala are taking them in to fix it. Poor Mubadala, they do have some stuff to get through - I remember Tabreed.

Re: Mubadala and Ipic to merge
 

My forecast for what will happen:

Stage 1: The two headquarters are merged with cost savings by removal of duplicate functions. Given emiratisation quotas, this effectively means more expatriate redundancies. Will take a year or so.

Stage 2: The portfolios are rationalised: probably another year at least.