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Article: MENA Infrastructure Fund invests in Oman power.
- Article from:
- CPI Financial
- Article date:
- June 29, 2009
CopyrightCOPYRIGHT 2009 Al Bawaba (Middle East) Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: news@cpifinancial.net (Staff Writer)
UPC is listed on the Muscat Securities Market, with 40 per cent of its equity capital being publicly traded. MENA Infrastructure Fund acquired its stake as a result of the sale of the founders' shareholding in the company by French firm GDF Suez in a competitive auction process. The sale was a requirement by the Omani electricity regulator for GDF Suez to divest its shareholding in UPC. Following the transaction, MENA Infrastructure Fund becomes the largest shareholder in UPC.
UPC owns and operates a 270 megawatt power station in Oman, the first independent power project to be developed in the Middle East with private ...