ADIA to exit IFCO stake as Stonepeak steps in as co-owner
A. SREENIVASA REDDY (ABU DHABI)Abu Dhabi Investment Authority (ADIA) is set to exit its 50% stake in IFCO Group, a leading global provider of reusable packaging solutions for fresh foods. Stonepeak, an alternative investment firm specialising in infrastructure and real assets, announced in a statement that it has entered into a definitive agreement to acquire the co-controlling stake from a wholly owned subsidiary of ADIA.The remaining 50% in IFCO will continue to be held by Triton, the European mid-market sector-specialist investor that partnered with ADIA in acquiring IFCO in 2019 from Australian logistics provider Brambles Ltd. at a valuation of $2.5 billion, including debt. The new arrangement will give Stonepeak and Triton 'joint and equal ownership and governance' over the company.The cost of the transaction is not given in official statements but a Bloomberg report earlier put it over €2 billion ($2.3 billion).'ADIA invested alongside Triton in IFCO's carve-out from Brambles in 2019. Since then, IFCO has built solid foundations for the future, based on strong operational performance and enhanced digital capabilities, and is well positioned for growth,' said Hamad Shahwan Aldhaheri, Executive Director of the Private Equities Department at ADIA. 'We wish the Company, Triton, and Stonepeak continued success in the years ahead.'Founded in 1992, IFCO operates one of the world's largest circular logistics systems with a pool of more than 400 million reusable packaging containers (RPCs), enabling over 2.5 billion shipments of fresh food annually across more than 50 countries. Its customers include over 300 retailers and 18,000 growers globally.'With the support of ADIA and Triton, IFCO has gone through a successful strategic and operational transformation and delivered strong growth,' said Michael Pooley, CEO of IFCO. 'We welcome Stonepeak as a new partner alongside Triton.''As the operator of the largest and most established logistics network for reusable packaging in the grocery supply chain globally, IFCO represents a critical component of the logistics infrastructure delivering fresh produce,' said Nikolaus Woloszczuk, Senior Managing Director at Stonepeak. 'We believe the Company's high-quality, market-leading platform has meaningful embedded and adjacent growth opportunities, and we are excited to partner with Triton and the IFCO team to accelerate this next chapter of growth.''We thank ADIA for its support of IFCO and the trustful collaboration with Triton over the last six years and are looking forward to continuing our investment journey with Stonepeak. Together we share the same ambition to create value for our investors and portfolio companies,' said Stephan Förschle, Partner and Co-Head of Business Services at Triton.
The transaction is expected to close in Q4 2025, subject to regulatory approvals. Stonepeak was advised by Citi and Kirkland & Ellis. ADIA and Triton were jointly advised by Bank of America, Morgan Stanley, and Latham & Watkins.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Middle East Eye
17 hours ago
- Middle East Eye
Germany's zeal for Israeli genocide revives its dangerous exceptionalism
Germany is open about its uninhibited support for Israel's war of extermination and genocide in Palestine, and wants to make sure the entire world sees it. Recognition for its Zionist zeal enables Germany to rehabilitate its exceptionalism, or Sonderweg, with catastrophic consequences for Palestinians and international law. Germany is not uniquely evil among liberal democracies in offering Israel unconditional support in killing starving Palestinians. Chancellor Friedrich Merz is no more morally bereft than British Prime Minister Keir Starmer or French President Emmanuel Macron. But Germany exalts Zionist radical evil to assert its uniqueness. Germany remains as hungry for national identity as it has ever been, and nothing can stand in its way - least of all Palestinians, who appear in the German consciousness only when establishment forces fail to erase their existence. Germany's pursuit of greatness has unleashed immense violence and destruction, from genocidal conquests in Africa to two world wars and the extermination of European Jews. New MEE newsletter: Jerusalem Dispatch Sign up to get the latest insights and analysis on Israel-Palestine, alongside Turkey Unpacked and other MEE newsletters Its defeat and division after World War Two, and integration into Nato and the EU, seemed to put the German threat to rest. Yet Germany has bounced back with a vengeance, thanks to economic prowess and global reordering. While it has championed the rule of law and democracy within the EU like no other, it has not hesitated to set them aside when they conflict with its core interests - whether to impose its economic model and austerity on all member states, pursue energy policy at the expense of European partners (Nord Stream 2), or break fiscal rules it had imposed on the rest. Zionist repression Germany has surpassed all European nations, restoring itself as Europe's leading power and wielding that power with little regard for easing fears of domination. Establishment forces have translated Holocaust remembrance into unconditional support for Israel, with any criticism automatically treated as antisemitism Its chief worry is how to deal with European partners begging for protection, urging it to assume greater responsibility and boost military spending. Germany is happy to oblige, proclaiming its ambition to become Europe's largest military. A German Europe, rather than a European Germany, seems like Europe's salvation. Yet Germany still lacks what every European nation, no matter how insignificant, has: national pride. Germany lost its own with the Holocaust, leaving a void that fuels a divide between revisionists seeking to "normalise" the nation and establishment forces who anchor German identity in Holocaust remembrance. Establishment forces have translated Holocaust remembrance chiefly as support for Israel, elevating its protection to a German Staatsraison (national interest) coupled with zero tolerance for criticism of Israel, which is automatically treated as antisemitism until proven otherwise. A vast network of governmental and civil society organisations is mobilised to enforce this draconian policy, which in practice amounts to systemic repression and the criminalisation of solidarity with Palestine. Even a slaughter livestreamed for over 22 months is beyond reproach, no matter that children are burned alive, buried alive, starved to death or used for target practice. Gory particularism The unspeakable horror Israel has unleashed has served as a golden opportunity for Germany to demonstrate fanatical devotion to Israel. With unwavering support for Zionist genocidaires, Germany overrides humanity's law with much the same zeal that the Nazis once unleashed spectacular cruelty to show disdain for human values. Follow Middle East Eye's live coverage of Israel's genocide in Gaza The list of German transgressions is horrifyingly long: persistent objection to ceasefire proposals; sabotaging EU efforts to adopt measures to prevent genocide; refusing calls to end a "minutely engineered, closely monitored, precisely designed mass starvation" in Gaza; blocking Palestinian initiatives at the UN; rejecting legal action against Israel at the International Court of Justice (ICJ) and the Inernational Criminal Court (ICC); and even proposing to make the deliberate killing of civilians legal, obliterating the premise of international humanitarian law. Its recent arms embargo for weapons usable in Gaza omits any commitment to past or future compliance. Palestinians appear only as an amorphous "civilian population" suffering from unnamed causes. Whatever principles Germany claims stem solely from its sovereignty and magnanimity, not from universal law. These are not rogue acts but state policy, revealing a revisionist Germany that places itself above international law and its post-Nazi constitution. This virulent support for Israel is a form of gory particularism - dedication to one people by sacrificing another. Unlimited support for Israel equals unending contempt for the dignity of Palestinians. Revisionist Germany cannot serve the interests of Jews. By conflating antisemitism with anti-Zionism, Germany delegitimises the fight against actual antisemitism and silences anti-Zionist Jews, once again presuming the right to decide who the "good" Jews are. It does not serve Israel either, for backing a country in the grip of genocidal mania is the surest way to hasten its downfall, even as Palestinian lives mean nothing to either side. The proliferation of genocides dilutes Germany's unique responsibility for the Holocaust. All this when Germany could have leveraged its special relationship with Israel to save Israel from itself, despite inadvertently saving Palestinians. Racial supremacism Merz's open support for Israel's war of aggression against Iran, claiming it does "dirty work" for an undefined "us", underscores a racial supremacism that treats Israelis as tools for German aims - willing executioners in service of another's cause. Masquerading as loyalty, zealotry for Israel, in fact, rehabilitates German supremacy, evoking "Zionism uber alles" to advance "Deutschland uber alles". In praising Israel's 'dirty work', Merz exposes the orientalist roots of German genocidal Zionism Read More » Germany has given itself the liberty to wage a vicarious genocide against Palestinians as a macabre demonstration of loyalty to Israel, exploiting Holocaust responsibility to reclaim national pride. In overriding all ethical and legal norms to show devotion to Israel, it places itself above everyone else. Only Germans, it claims, can reckon with their past atrocities properly - and only they can determine what norms should apply to them or Israel. This is precisely what German philosopher Jurgen Habermas's "principles of solidarity" rationalise: mobilising atonement to displace scrutiny of Israel's atrocities into the illogical sphere, making accusations of genocidal intent against it unthinkable. Considering Habermas is heralded as the spiritual guide of post-national Germany, the alternative to neo-Nazi revisionists, we can say both forms of revisionism aim at the same goal - German supremacy - but differ on method. The radical evil Germany engages in, and the cultivation of tolerance for it, reflect not only establishment power to control the public mind but also society's failure to uphold basic norms. The grotesque fervour with which even reputable newspapers rationalise Zionist monstrosities and erase Palestinian suffering would be hard to imagine even in Orwell's world. Dark parallels We risk failing to see Germany for what it has become because Europe itself is beginning to resemble Germany in its darkest times. Across the continent, establishment forces shield Israel from accountability for atrocity crimes in exchange for absolution over their collaboration with Nazi Germany. Fascist forces weaponise support for Israel to mobilise persecution of Muslims and other minorities, gaining power with each election - often aided by democratic leaders who show the same contempt for the rule of law. Only a radical recommitment to universality can avert another descent into barbarism and protect democracy against creeping authoritarianism in Germany, Europe and beyond With the obliteration of universalism and the brutalisation of our collective conscience that Sonderweg exemplifies, Europe descends into a dark age where stigmatised populations - migrants and Muslims - fear being next in Germany's atonement list, or France's exceptional measures to disenfranchise its Muslims. Europe has never been closer to its Nazi era than it is today. With US investment in replacing democratic rule with fascist totalitarianism, we risk fulfilling Hitler's dream of a white supremacist alliance. Only a radical recommitment to universality can avert another descent into barbarism and protect democracy against creeping authoritarianism in Germany, Europe and beyond. Full accountability for collaboration with Zionist genocidaires is the first step in restoring a universal principle where all are included - without which, no one is safe. The views expressed in this article belong to the author and do not necessarily reflect the editorial policy of Middle East Eye.
Al Etihad
a day ago
- Al Etihad
Mubadala completes acquisition of CI Financial
15 Aug 2025 11:13 A. SREENIVASA REDDY (ABU DHABI)Mubadala Capital has completed its previously announced acquisition of CI Financial Corp., one of North America's leading diversified asset and wealth management firms, the companies said in a joint statement. The deal is valued at C$12.1 billion ($8.9 billion).The transaction, which took effect on August 12, 2025, was executed through a statutory plan of arrangement under the Business Corporations Act (Ontario). Under the deal, Mubadala Capital acquired all outstanding CI common shares for C$32.00 per share, excluding rollover shares held by some executives, representing an equity value of approximately C$4.7 billion ($3.5 billion)."CI Financial is an incredible business that aligns closely with Mubadala Capital's long-term vision and strategy," said Hani Barhoush, CEO and Managing Director of Mubadala Capital. "By combining CI's wealth management expertise and long-standing client relationships with our alternative investment capabilities and global reach, we are building a differentiated platform focused on the thoughtful stewardship of capital — helping clients grow, preserve, and manage wealth across generations, while driving innovation in how wealth is served."Kurt MacAlpine, CEO of CI Financial, said: "This is an exciting new chapter for CI. In Mubadala Capital we've found the perfect partner – one who shares our aspirations and is committed to supporting the next phase of our journey. Together, we are uniquely positioned to expand our capabilities, accelerate growth and unlock even greater value for the clients we serve."Following the acquisition, Mubadala Capital now manages, advises, and administers more than $430 billion in combined assets for clients and limited partners through its asset managers and strategic partners, including CI and its will retain its headquarters in Toronto and continue operating independently under its current corporate structure, brand, and leadership team. MacAlpine will roll all of his equity into the continuing company in partnership with Mubadala shares are expected to be delisted from the Toronto Stock Exchange shortly, though it will remain a reporting issuer in all Canadian provinces. The acquisition also positions CI to further expand Corient, its US subsidiary, while preserving Corient's private partnership model. 'For Mubadala Capital, this investment enhances its strategic presence in the North American investment and wealth management sectors and underscores its ability to execute complex, high-value transactions,' a separate Mubadala statement said. 'It also complements Mubadala Capital's long-term approach to building resilient platforms in key global markets. This investment is designed to provide CI Financial with a stable, well-capitalised platform for future growth, including enhanced reinvestment capacity and continued expansion in its core markets.'
Arabian Post
2 days ago
- Arabian Post
Rate cut expectations drive markets to new highs
US markets have been hitting record levels this week, and the catalyst of growing conviction that the Federal Reserve will cut rates in September. The Dow surged 463 points on Wednesday, the S&P 500 notched another all-time high, and the Nasdaq also finished at a record for the second straight day. The optimism is being driven by a tamer-than-expected inflation report that has traders assigning a near 100% probability to a rate cut at the Fed's next decision. Add in a resilient earnings season, with even small caps showing renewed strength, and you have a market rally that is no longer confined to the usual megacap tech leaders. ADVERTISEMENT When the cost of borrowing falls, capital becomes cheaper for companies, financing becomes less of a drag, and equity valuations tend to expand. Lower rates also give consumers more room to spend, which can ripple quickly through corporate revenues. This is why rate expectations are such a potent driver of equity markets, and why we've seen the rally broaden beyond the so-called 'Magnificent Seven' to small- and mid-cap stocks, with the Russell 2000 gaining 2% on Wednesday alone. But this is not just a US story. The US is still the primary engine of global capital markets, and when Wall Street moves, liquidity, sentiment, and valuation re-rating tend to spill across borders. Emerging market equities, for example, often benefit disproportionately when US rates come down – capital flows in search of higher yields and growth potential can accelerate. Developed market exporters, particularly in Europe and Asia, can also see upside if a weaker dollar boosts their competitive position. The near-term picture, if the Fed does deliver in September, is a global risk-on environment. Equities would likely extend their gains, credit spreads could tighten, and certain currencies sensitive to growth and risk sentiment, such as the Australian dollar or the South African rand, may strengthen. Commodities tied to industrial activity, including copper, could get a boost as the growth narrative firms. Of course, markets rarely move in straight lines. The risk is that optimism runs ahead of reality, especially if economic data turns quickly or if central bankers signal that cuts will be more measured than investors hope. Inflation, while easing, has not disappeared, and the Fed will want to avoid the perception that it is acting too aggressively. For investors, this is a moment that demands both clarity and discipline. The broadening of the rally is a healthy sign – it suggests that markets are no longer reliant on a small cluster of giants – but it also means that opportunities are appearing in areas that have been overlooked for much of the past year. This includes sectors and regions that stand to benefit directly from a lower cost of capital and a potential reacceleration in global trade. It also calls for an awareness of currency implications. A Fed rate cut would likely weaken the dollar, which could enhance returns for non-US assets in dollar terms, but it could also introduce volatility in foreign exchange markets. Investors with global exposure need to understand how this might affect both portfolio performance and risk. We are entering a period where positioning ahead of policy moves can have a material impact on outcomes. The market is already pricing in a September cut – which means the real opportunity lies in anticipating how capital will reallocate once that cut is delivered. It's a question of identifying the sectors, asset classes, and geographies best placed to benefit in the first phase of easier policy, while also protecting against the possibility of a bumpier path than markets currently expect. The Fed's next move is not just about rates. It's about resetting the tempo of the global financial system after two years of aggressive tightening. As always, such a reset will create winners and losers – and the difference between them will come down to preparation. Nigel Green is deVere CEO and Founder Also published on Medium. Notice an issue? Arabian Post strives to deliver the most accurate and reliable information to its readers. If you believe you have identified an error or inconsistency in this article, please don't hesitate to contact our editorial team at editor[at]thearabianpost[dot]com. We are committed to promptly addressing any concerns and ensuring the highest level of journalistic integrity.
