Virgin Galactic Remains a Long Term Legacy Holding from Aabar, Now in Mubadala’s Hands
Posted on 08/08/2020
On July 30, 2020, Mubadala Investment Company was required to report a 7.08% stake, or 14,887,178 shares, in Richard Branson’s Virgin Galactic Holdings, Inc. These were shares that were owned by the International Petroleum Investment Company PJSC (IPIC), which owns Aabar Investments PJS, which owns Aabar Space, Inc., a a company limited by shares under the laws of the British Virgin Islands. Mubadala had absorbed the operations of IPIC in 2017, thus the investment in Virgin Galactic is a legacy holding.
In 2009, Aabar made a US$ 280 million investment in Virgin Galactic for a 32% stake. In 2016, Aabar was reported to to have then invested up to US$ 380 million, owning a 37.8% stake in the company.