# 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.

- Type: Acquisition
- Announced: 2020-04-29
- Where: United Arab Emirates
- Value: $32.7B (120.0B AED)
- Status: announced
- Capacity: 23 GW power and 320 billion gallons water per year
- Products: electricity generation, water and electricity transmission and distribution
- Sectors: [Power Generation Equipment](https://endata.com/sectors/power-generation-equipment.md), [Water Treatment Equipment](https://endata.com/sectors/water-treatment-equipment.md)

## Companies

- [Abu Dhabi National Energy Company (TAQA)](https://endata.com/companies/30616.md) (target)
- [Abu Dhabi Power Corporation (ADPower)](https://endata.com/companies/46876.md) (acquirer)

## Sources

- [thenationalnews.com](https://www.thenationalnews.com/business/markets/taqa-s-shareholders-approve-ad-power-deal-1.1012824), 2020-04-29: "This is a transformational deal for Taqa."

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.