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Tuesday, 4 April 2017

UPDATE 1-Abu Dhabi's loss-making Taqa gets lifeline from state utility | Reuters

UPDATE 1-Abu Dhabi's loss-making Taqa gets lifeline from state utility | Reuters:

"Abu Dhabi's state utility tightened its grip on loss-making Abu Dhabi National Energy Company (Taqa) by boosting its stake to 74 percent, days after it granted land that could potentially wipe out the energy company's losses. It is not the first time cash-rich Abu Dhabi has stepped in to rescue a state-linked company. In 2011, it bailed out struggling developer Aldar Properties. Like some other energy companies, Taqa has been reeling from losses resulting from low commodity prices."



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