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FINANCIAL NEWS
Abu-Dhabi’s TAQA to sell some assets in 2014
06 Sep 2014
(MENAFN) Abu Dhabi National Energy Co (TAQA) may sell assets this year and has picked two international advisers for a possible sale, The Peninsula Qatar reported.
The state-owned explorer and power supplier, about 75 percent owned by the government of Abu Dhabi, has hired Australian investment bank Macquarie and McKinsey & Co as advisers.
TAQA has been reviewing its project portfolio as part of a strategic review under new chief operating officer Edward LaFehr, who took charge earlier this year.
“Some of TAQA”s assets no longer fit into its strategy after the company”s growth plans were rebalanced,” a source said. “Some assets could be disposed of before the year-end,” a second source said.
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