Nebras Power to acquire 75% stake in Zon Exploitatei Nederland

Mubasher: Nebras Power is planning to foray into Netherland’s energy market by purchasing a 75% stake of Zon Exploitatei Nederland Holding B.V.

The agreement’s total cost amounted to $20.1 million (EUR 17.14 million), and will be financed through Nebras Power’s liquidity, according to Qatar Electricity and Water’s (QEWS) statement to the Qatar Stock Exchange (QSE).

Nebras Power, a joint venture between QEWS (60%) and Qatar Holding LLC (40%), is expected to achieve an operating profit from the project.

It is worth noting that there are no financial or legal obligations for any third party towards Nebras Power.

During the second quarter of 2018, QEWS posted a 9.1% year-on-year profit drop, recording QAR 419 million from QAR 461 million in Q2-17.

By 10:28 am Qatar time, QEWS’s stock stood at QAR 190.

Mubasher Contribution Time: 09-Sep-2018 09:05 (GMT)
Mubasher Last Update Time: 09-Sep-2018 09:13 (GMT)