Abu Dhabi’s Mubadala Investment Company has announced an agreement to acquire a 30 percent stake in Loscam International, a Hong Kong-based pallet manufacturer. Although the sovereign wealth fund did not disclose the transaction’s value, Hong Kong-listed Sinotrans has reported it to be worth $567 million.

In a market filing, Sinotrans explained that the deal involves the sale of a 25 percent stake by China Merchants Shipping, which is an indirect wholly-owned subsidiary, for $472 million. Additionally, CITIC Capital and FV Pallet, owned by FountainVest Partners, will receive $56.7 million and $37.8 million for their respective 3 percent and 2 percent equity stakes.

Loscam operates in twelve countries and regions across the Asia-Pacific, including Australia, New Zealand, Southeast Asia, and China. The company specializes in providing logistics services to sectors such as consumer goods, retail, and manufacturing. It is important to note that this transaction is contingent upon regulatory approvals.

In related news, a recent report from research firm Global SWF indicated that Mubadala outpaced Saudi Arabia’s Public Investment Fund in its investment spending last year, investing $29.2 billion in 2024 compared to $17.5 billion in 2023.