◂ Announcements

Apr 29, 2020ACQUISITIONUnited Arab Emirates

Taqa shareholders approve reverse takeover by ADPower

Shareholders of Abu Dhabi National Energy Company (Taqa) voted to approve a deal combining its assets with Abu Dhabi Power Corporation (ADPower), transferring ADPower's water and electricity assets worth about Dh120 billion to Taqa in return for shares, giving ADPower a 98.6% stake.

Value

$32.7B (120.0B AED)

Status

Announced

Capacity

23 GW power and 320 billion gallons water per year

Productselectricity generationwater and electricity transmission and distribution

CompaniesAbu Dhabi National Energy Company (TAQA) target Abu Dhabi Power Corporation (ADPower) acquirer

Sectors#Power Generation Equipment #Water Treatment Equipment

“This is a transformational deal for Taqa.”thenationalnews.com

1 source
thenationalnews.comTaqa's shareholders approve AD Power deal | The NationalThe NationalApr 29, 2020

Summarized from public sources; check the original articles before acting on it.

◂ Announcements

Taqa shareholders approve reverse takeover by ADPower

More from Abu Dhabi National Energy Company (TAQA)

◂ Announcements

Taqa shareholders approve reverse takeover by ADPower

More from Abu Dhabi National Energy Company (TAQA)

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