UAE investment firm Mubadala, GE launch $8 bln JV

DUBAI, July 22 (Reuters) - Abu Dhabi state investment agency Mubadala said on Tuesday it will become a long-term shareholder in General Electric (GE.N) and will set up an $8 billion joint venture firm with the U.S. company.

The joint venture, with equal equity from the two firms, will "focus exclusively on investment opportunities generated through GE Capital's existing origination and servicing capacity with targeted assets of $40 billion", they said in a joint statement.

The two firms will establish a clean energy technology centre in a zero-carbon waste city Abu Dhabi is building, they said. (Gulf newsroom)