Abu Dhabi's Taqa to offer more shares in asset-transfer deal - Arabianbusiness:
Abu Dhabi National Energy Company, also known as Taqa, has completed an asset-transfer deal with its parent Abu Dhabi Power Corporation’s (ADPower) to create one of the largest utility companies in the Europe, Middle East and Africa (EMEA).
Jasim Husain Thabet, who was CEO of ADPower, has been appointed CEO and MD of Taqa. Saeed Hamad Al Dhaheri has been named deputy CEO, with Stephen John Ridlington appointed as the company’s chief financial officer.
The transaction, saw ADPower transfer the majority of its power and water generation, transmission and distribution assets to Taqa, was completed in exchange for 106 billion new shares.
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