Qatar Electricity and Water Company (QEWC), the public utility company of Gulf country, announced Wednesday its subsidiary signed an agreement to acquire 40% stake in energy investment company Nebras Power for $530 million, Reuters reports.
Raslaffan Operating Company made the offer to buy the stake from Qatar Holding, a unit of Qatar’s sovereign wealth fund, the Qatar Investment Authority, QEWC said in a bourse statement.
The operation gives full control of the company by QEWC which already owns 60 per cent of shares of the firm. The transaction is subject to a number of conditions precedent which includes regulatory approvals and notifications from other foreign jurisdictions where Nebras is present.
Qatar’s QEWC gets full control of Nebras Power
