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FINANCIAL NEWS
Energy Holdings & Wasatah establish $50m SPC
04 Aug 2010
(MENAFN) Energy Holdings International, Inc. and Wasatah Capital of Saudi Arabia reached an agreement to form a Special Purpose Corporation (SPC) with an initial capital of $50 million that will provide acquisition funding for Oil and Gas and energy power projects within the Americas, Middle East and South East Asia regions.
Energy Holdings International, Inc. management team has identified a number of target acquisitions in Oil and Gas and IPP power projects that are being pursued and will be acquired when the initial capital raising closes. Energy Holdings International, Inc. will supply acquisition expertise and will be involved in its operations.
Both parties have agreed to concurrently collaborate to establish a private equity fund within the energy and power generation sectors which will benefit all investors in this vital energy sector which fuels the world economy with worldwide demand.
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