ABU DHABI: Mubadala Investment Company has teamed up with the Russian Direct Investment Fund (RDIF) to take a major stake in Russia’s biggest fitness group.
The consortium that also includes other regional investment funds has taken a 22.5 percent stake in Russian Fitness Group, which manages the largest chain of fitness clubs in Russia under the ‘World Class’ brand.
The consortium acquired the stake from VTB Capital. It comes as Moscow increasingly promotes healthy living in a country where heart disease accounts for more than two thirds of all deaths according to the World Health Organization.
“Together we will create the conditions needed to improve the quality of life,” said Kirill Dmitriev, CEO of RDIF. “Through both this project and the mixed martial arts company UFC Russia, which was established in partnership with Mubadala, RDIF is promoting the development and popularization of sports in Russia. ”
RDIF is Russia’s sovereign wealth fund and Mubadala is similarly focused on boosting the wealth of Abu Dhabi. Mubadala is active in 13 sectors and more than 30 countries around the world,.
Russian Fitness Group operates World Class and World Class Lite fitness clubs chains. Today World Class is the largest fitness corporation in Russia operating 39 own and 46 franchised clubs in 34 cities.
Abu Dhabi's Mubadala flexes muscles in Russia
Abu Dhabi's Mubadala flexes muscles in Russia
- Abu Dhabi fund invests in Russia's biggest gym chain
- Mubadala controls assets estimated to be worth $226 billion
DP World announces new leadership appointments
DUBAI: DP World announced the appointment of Essa Kazim as Chairman of its Board of Directors and the appointment of Yuvraj Narayan as Group Chief Executive Officer.
Essa Kazim currently serves as Governor of the Dubai International Financial Centre and Chairman of Borse Dubai. He brings extensive experience in financial and economic affairs, having previously held senior leadership positions in several national institutions.
Yuvraj Narayan has extensive professional experience in financial management, corporate finance, supply chains, and global trade. Since joining DP World in 2004, he has led a number of strategic and transformational initiatives that supported the company’s expansion across international markets and strengthened its role as an integrated global provider of end-to-end supply chain solutions.
Narayan has served as Group Chief Financial Officer since 2005, contributing to the company’s financial resilience and operational efficiency.
DP World affirmed that the new appointments support its strategy for sustainable growth and reinforce its role in strengthening global supply chains and supporting Dubai’s position as a leading hub for trade and logistics.
