Home UAE Abu Dhabi Mubadala Capital’s $3bn Fortress bid clears key US regulatory hurdle: FT reports The approval comes as Mubadala agreed to let Fortress commit to keeping technology and data in the US by Reuters May 10, 2024 Image courtesy GIUSEPPE CACACE/ Getty Images Abu Dhabi sovereign investor Mubadala Capital’s $3bn bid for New York-based Fortress Investment Group has cleared a significant US regulatory hurdle after the parties agreed to important concessions, the Financial Times reported on Friday. The Committee on Foreign Investment in the United States (CFIUS) approved Fortress’ sale of a majority equity interest to Mubadala, the newspaper said, citing sources familiar with the matter. The approval comes as Mubadala agreed to let Fortress commit to keeping technology and data in the US after it earlier pledged to waive day-to-day control over the investment group. The concession comes amid Washington’s increased focus on protecting US intellectual property. CFIUS, Mubadala and Fortress did not immediately respond to a Reuters request for comment. Abu Dhabi’s Mubadala in May 2023, said it would buy a majority stake in Fortress Investment from SoftBank Group. After the deal is completed, Fortress’ management will own a 30 per cent stake, with Mubadala holding the rest. Read: Abu Dhabi’s Mubadala invests in Australia’s largest urea project Tags Abu Dhabi Fortress Investment Group Mubadala Capital Regulation US You might also like Wizz Air launches first long-haul service from Abu Dhabi to Milan ADNOC to acquire 35% stake in Exxon’s Texas hydrogen plant Aldar unveils new luxe villa community on Yas island Saudi’s flynas launches flights to Abu Dhabi, Sharjah