It was acquired by the Japanese "Sujitz"

"Shuaa" sells the 20% stake in "Al Mirfa International Water and Electricity"

The new sale comes in line with the exit strategy adopted by "Shuaa".

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Yesterday, Shuaa Capital announced the sale of its 20% stake in the Al Mirfa International Water and Electricity Company to the leading Japanese company, Sujitz.

"Al Mirfa International Water and Electricity" was established in Abu Dhabi in 2014 to be the tenth of private projects in the water and electricity sector, within the framework of the privatization program launched by the Department of Energy, noting that this company has been contracted under a power and water purchase agreement, "Shuaa" stated in a statement. It developed and operated a power generation and seawater desalination plant in the Al Dhafra region of Abu Dhabi, with a production capacity of 1,600 megawatts of energy and 52.5 million gallons of water per day.

Investments in the "Mirfa International Water and Electricity" company began in 2015, which contributed to supporting the development stage of the project, and the sale comes in line with the exit strategy adopted by the company.

The list of shareholders of Al Mirfa International Water and Electricity includes the Abu Dhabi National Energy Company (TAQA) and ENGIE SA, the leading French group in the field of services and low carbon energy solutions, which intend to maintain their shares (60% and 20% respectively). .

"Sujitz" is a multinational commercial and investment group listed on the Tokyo Stock Exchange, with assets of about $ 21 billion across several sectors.

And under the umbrella of this company, there are more than 40 energy projects in more than 14 countries around the world, making it the most efficient partner for the "Mirfa International Water and Electricity" company to move forward.

Fouad Tariq Khan, General Manager and Head of Investment Banking Services for "Shuaa Capital" said, "(Sujitz) will be an ideal partner for (Al Mirfa International Water and Electricity), due to its international experience in the global energy sector, in addition to its operational experience as a strategic investor. ».

He added, "We are pleased to sell our share to (Sujitz) in line with the exit plan established after we supported the development of its subsidiary station, which will contribute to ensuring the stability of water and electricity supplies in the UAE."

For his part, Masakazu Hashimoto, Chief Operating Officer of the Infrastructure and Healthcare Division at Sugitz, said: “We are pleased that (Sujitz) has become a co-sponsor for this project, which plays an important role in stabilizing water and electricity supplies in Abu Dhabi, and contributes to stimulating economic growth. For the region in general ».

Sojitz has $ 21 billion in assets across several sectors.

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