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Abu Dhabi's TAQA to pay US$302 million for 90% of Fujairah Water
Source: BI-ME and Bloomberg , Author: BI-ME staff
Posted: Sun May 3, 2009 3:25 pm
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UAE. Abu Dhabi National Energy Co, the state-controlled power and oil producer known as TAQA, will pay AED1.11 billion (US$302 million) to Abu Dhabi Water and Electricity Authority for a 90% stake in Fujairah Water and Electricity Co.

The payment will be in installments spread over a period of time, according to a statement on the Abu Dhabi bourse web site today.

MIDDLE EAST BUSINESS COMMENT & ANALYSIS

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