HP sells UAE-based IT firm stake to Abu Dhabi fund Mubadala

Reuters News
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Posted: Oct 07, 2014 6:19 AM

ABU DHABI (Reuters) - Hewlett-Packard Co has sold its 40 percent stake in United Arab Emirates-based Injazat Data Systems for an undisclosed amount to its investment partner, Abu Dhabi state-owned fund Mubadala [MUDEV.UL].

The deal, announced in a statement from Injazat on Tuesday, comes a day after HP said it would split into two listed companies, separating its computer and printer businesses from its faster-growing corporate hardware and services operations.

Unlisted Mubadala, which has stakes in General Electric and private equity firm Carlyle, now owns 100 percent of Injazat.

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(Reporting by Stanley Carvalho; Editing by David French)