Mubadala CEO Signals Oil Deals as IPIC Megamerger Advances

Mubadala Development Co., the Abu Dhabi sovereign fund merging with International Petroleum Investment Co., said potential energy deals are more attractive after the slump in oil prices drove down asset prices.

“For someone who takes a long-term view, it’s an attractive time to invest in the industry,” Mubadala Chief Executive Officer Khaldoon Mubarak said in an interview Monday at his office in the U.A.E. capital. “We as Mubadala are players in this industry. We will continue to invest in this industry, particularly in such a time where we find valuations at a low and attractive range.”