Abu Dhabi’s Mubadala Invests $500 Million in Pet Care Firm

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Abu Dhabi wealth fund Mubadala invested 350 million pounds ($500 million) in IVC Evidensia, one of Europe’s largest veterinary care providers.

IVC Evidensia joins the fund’s growing portfolio of consumer businesses, including Reliance Retail Ventures Ltd., Coupang Inc. and Truck Hero Inc., Mubadala said in a statement on Sunday.

IVC was originally acquired by EQT Private Equity in 2016 and later merged with Swedish veterinary group Evidensia. The company operates a network of more than 1,500 veterinary clinics and hospitals in 12 countries across Europe.

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