Middle East Economic Survey


No 27



TAQA Acquires Stake In Oman Aluminum Company

Abu Dhabi National Energy Company (TAQA) has acquired a 40% stake from its majority shareholder the Abu Dhabi Water and Electricity Authority (ADWEA) in Omans Sohar Aluminum Company (SAC), it said on 30 June. The purchase price was $400mn, with final terms still to be agreed between TAQA and ADWEA. This is a high quality operation and is not only expected to increase TAQAs cash flow, but also...