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MENA Infrastructure Fund, the infrastructure equity fund sponsored by HSBC, Waha Capital and Dubai International Capital, has acquired 32.8% of United Power Company SAOG (UPC) for $26.5m. UPC is listed on the Muscat Securities Market, with 40% of its equity capital being publicly traded. MENA Infrastructure Fund has acquired 32.8% of the founders' shareholding in the company from GDF Suez, the French energy giant in a competitive auction process. The sale was a requirement by the Omani electricity regulator for GDF Suez to divest its shareholding in UPC. Following the transaction, MENA Infrastructure Fund becomes the largest shareholder in UPC. UPC owns and operates a 270 megawatt power station in Oman, the first independent power project to be developed in the Middle East with private sector participation. The acquisition... [read full story]
MOUNT PEARL, Newfoundland--(BUSINESS WIRE)--Kat Exploration (OTC-Pink Sheets: KATX) is happy to report that its exploration program carried out this summer on its 100% wholly owned “Lucky” Property has been a real success....
PARIS, November 23 /PRNewswire-FirstCall/ -- The winners of this year's prestigious HOT BIRD(TM) TV Awards, the only international event recognizing the highest quality of content creation and innovation by thematic satellite...
analysis Abuja — On the eve of the climate change summit in Copenhagen this December, momentum for action it does appear, still falls far short of that needed to avert catastrophe. Yet global warming comes primarily from...
Planned to be one of the most beautiful regions in the world, the federal capital territory is gradually falling below that expectation, due to what seems to be gross neglect of the suburbs of Abuja city.
