Abu Dhabi state investor Mubadala halts business with Goldman Sachs amid 1MDB lawsuit

DUBAI/ABU DHABI - Abu Dhabi state investor Mubadala has suspended any new business dealings with Goldman Sachs since its subsidiary filed a lawsuit in November against the U.S. bank and others to recover losses suffered through its dealings with Malaysian state fund 1MDB.

“We have suspended any activities with Goldman Sachs pending outcome of the litigation,” Brian Lott, spokesman of Mubadala Investment Co, said in response to questions from Reuters. Over the last few years, New York-based Goldman has ranked among the top banks for takeover advice in Abu Dhabi, the oil-rich capital of the United Arab Emirates.

Good on them.

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