Abu Dhabi Sovereign Fund to Enter Ibirapuera Entertainment Complex Bid

The middle-eastern mega-investor intends to turn São Paulo into one of the largest entertainment platforms in South America. The Ibirapuera complex is strategic because the venue can attract sports and cultural events unavailable in Brazil.

SÃO PAULO, BRAZIL - One of the largest sovereign wealth funds in the world, Abu Dhabi's Mubadala, is preparing to invest heavily in Brazil to expand its participation in the sports and entertainment sectors. The fund is considering participating, through its IMM company, in the bidding for the Ibirapuera complex in São Paulo, an investment that should not be lower than US$100 (R$400) million.

The Ibirapuera complex, which includes a gymnasium and arena, is strategic for IMM because the venue can attract sports and cultural events hitherto unavailable in Brazil, such as NBA basketball games, for . . .

To read the full NEWS and much more, Subscribe to our Premium Membership Plan. Already Subscribed?