Mubadala to buy $ 50m shares in Next Decade

Abu Dhabi 24-10-2019
NASDAQ’s NEXT Deced Inc. and Mubadala Investment Company (Mubadala) announced that they have reached an agreement whereby Mubadala will buy $ 50 million of shares from NEXT DECIDE in a private placement. Next Deced ‘Ordinary Shares to swap at $ 6.27 per share.
Mubadala’s investment will strengthen Next Decid’s capital during the ongoing development of the Rio Grande LNG project, the largest LNG export project to global LNG markets from the Permian Basin.
“We are honored to welcome a global investor as a shareholder exchange in our company,” said Matt Schatzman, Chairman and CEO of Next Decide.
“Mubadala has a valuable vision in terms of huge infrastructure investments and the growing role of LNG in the Middle East and other markets around the world and we look forward to a strong and lasting partnership with Mubadala.”
Khalifa Al Rumaithi, Executive Director of Transport and Storage at Mubadala, said: “We are delighted to be investing in Next Decide and we firmly believe that the Rio Grande LNG project will provide a competitive export route for abundant gas resources and commercial offerings. Attractive to both LNG customers, gas producers and shareholders at Next Decide. Furthermore, our investment reflects Mubadala’s positive outlook for the global gas market and the growing role that natural gas plays in the development of the energy sector. ”
As part of its investment in Next Decade, Mubadala will receive one seat on the company’s board of directors in addition to the right to contribute a certain amount to the capital of Rio Grande Natural Gas Project Company upon the issuance of the final decision by Next Decade to invest in this project. .