Doha: Nebulas Energy QPSC has announced the successful conclusion of negotiations with ENGIE SA to acquire the shares of ENGIE SA’s subsidiaries Qatar Power and Ras Giltas Power through its wholly-owned subsidiary Ras Laffan Operating Company.
In a statement today, Nebras Power explained that following negotiations, the parties have agreed to enter into a purchase and sale agreement between Ras Laffan Operating Company (ROC) and International Power (Ras Laffan B) Limited (IPL), a wholly-owned subsidiary of ENGIE, pursuant to which IPL has agreed to sell and ROC has agreed to purchase 40% of the total issued share capital of Qatar Power.
Purchase and sale agreement between ROC and Carlabel FZE (Carlabel), a wholly owned subsidiary of ENGIE. Accordingly, Carabel agreed to the sale and ROC agreed to purchase 50% of the entire issued share capital of RLC Power Holding Company Limited (equivalent to 40% of the share capital of Las Giltas Power Company).
Upon completion, Nebras Energy will increase its ownership in Qatar Power from 55% to 95% and in Ras Girtas Power from 45% to 65%.
This is subject to the satisfaction of precedent customary conditions and relevant legislation, including obtaining all necessary approvals from relevant regulatory authorities.
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