Qatar Electricity & Water Co (QEWC) has agreed to buy a 23.3 percent stake in Jordan's Amman East power plant from a Bahraini infrastructure fund, in a move by the state-owned Qatari firm to expand its international footprint.
QEWC bought the stake from IDB Infrastructure Fund, a $730 million private equity fund established in 2001 and managed by EMP Bahrain, a subsidiary of EMP Global. The IDB Fund's mandate is to make investments in infrastructure projects in Islamic countries.
As part of the deal, QEWC will buy IDB's 38.9 percent interest in AES Oasis Ltd, the 60 percent owner of the holding company for AES Jordan, QEWC said in a statement.
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