UAE's TAQA pulls out of $1.6 billion deal with Jaiprakash Power Ventures - The Economic Times:
"Abu Dhabi National Energy Co (TAQA) is pulling out of a $1.6 billion deal to buy two hydroelectric power plants of Jaiprakash Power Ventures because of "a change in strategy", a senior TAQA official said on Thursday.
The official, who declined to be named under briefing rules, did not give further details of the decision.
In March, TAQA said a consortium led by it had agreed to buy the two power plants. The consortium was to spend $616 million on equity in the plants, and in addition take over their non-recourse project debt, bringing the total enterprise value to around $1.6 billion, a TAQA spokesman said at the time. "
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