Taqa sells stake in Marubeni Taqa Caribbean Ltd

18 Jan 2011

(MENAFN) The Abu Dhabi National Energy Company (Taqa) said that Marubeni Corporation bought all Taqa’s shares in Marubeni Taqa Caribbean Ltd without saying how much the deal was worth, reported Gulf News.

Taqa said that the decision was taken as part of its strategy to focus on its power and water business development in Mena region.

Marubeni Taqa Caribbean Ltd was created when Taqa purchased 50 percent of the assets of Marubeni’s Caribbean, Japan’s largest trading company, in 2009.

It is worth noting that Taqa received an ‘A’ rating from the international credit ratings agency Standard and Poor’s following an extensive review of Taqa’s strategy and business plan.

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