IPIC and Aabar Investments PJS, both owned by the Abu Dhabi government, have agreed to pay 1MDB and Minister of Finance (Incorporated) US$1.8 billion to resolve a legal dispute.
The finance ministry issued a brief statement saying, “With this settlement, Malaysia and Abu Dhabi look forward to continuing to work together for the prosperity and economic benefit of both countries in the future.”
The 1 Malaysia Development Bhd and the Abu Dhabi companies were embroiled in the legal fight in London’s courts with claims that IPIC and Aabar were complicit in the 1MDB fraud.
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