Abu Dhabi – Mubasher: Mubadala Investment Company (Mubadala) and Nexen Tire Corporation on Thursday signed a memorandum of understanding (MoU) to explore strategic partnership opportunities.

The Abu Dhabi-based company will invest into the Korean company as a part of the agreement, according to a press release.

"Nexen Tire represents an interesting investment opportunity for Mubadala Investment Company,” commented Mubadala’s deputy CEO Waleed Al Mokarrab Al Muhairi.

Nexen Tire is one of the fastest growing companies in the world, with an annual growth rate of 15% over the past 10 years, he added.