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FINANCIAL NEWS
Bahraini firm purchases share in UAE utility for USD147mn
02 Jan 2017
(MENAFN) Asma Capital, owned by sovereign institutions, involving the Islamic Development Bank, Saudi Arabia’s Public Investment Fund will buy a share in UAE utility for USD147mn.
Accordingly, the firm proclaimed that it would invest more in Utico’s other projects and businesses, Ernst & Young, Hatch USA, ILFS, GU Advisory UAE and others.
Meanwhile, Utico is increasing its infrastructure assets in water, power, transmission and distribution, storage, billing and collection.
The UAE”s leadership has enabled Utico’s business model to develop and flourish, while its model of development has saved the governments billions of dirhams in capital spending.
M
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