August 1, 2017 / 6:13 AM / a year ago

Abu Dhabi's Mubadala awaiting information from banks on 1MDB payment-source

ABU DHABI, Aug 1 (Reuters) - Abu Dhabi’s state investor Mubadala is awaiting information from banks on a payment worth about $600 million that Malaysian state investor 1Malaysia Development Berhad (1MDB) was to make on Tuesday, a source familiar with the matter told Reuters.

The deadline for the payment was midnight Monday New York time or early Asia hours Tuesday, said the source, who asked not to be named because of the sensitivity of the matter.

The confusion about the payment grew after Malaysia’s Edge newspaper reported, citing unnamed sources, that 1MDB had missed the payment.

The Malaysian state investment fund reached an agreement in April to pay IPIC $1.2 billion in two installments. 1MDB had said payments will be made to IPIC by monetizing investment fund units.

IPIC, or International Petroleum Investment Company, was merged with Mubadala earlier this year.

Reporting by Stanley Carvalho; additional reporting by Praveen Menon, editing by Louise Heavens

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below