UAE – Mubasher: Mubadala Investment Company has sold a stake in Italy’s UniCredit Bank for EUR 850 million ($945.3 million), Bloomberg reported on Wednesday. 

Following the deal, Mubadala’s stake in the Italian bank shrank to 2.02% as of 20 December 2019, from 4.99% in June.

Officials from Mubadala and UniCredit declined to comment on the matter.

Mubadala Investment Company is owned by the government of the UAE and is considered a sovereign wealth fund.