Masdar-Fiba M&A Talks Collapse in Blow to Turkey-UAE Investment Drive - Bloomberg
Renewable energy giant Masdar’s talks to acquire a stake in Turkey’s Fiba Yenilenebilir Enerji have collapsed, according to sources with knowledge of the matter, in a blow to Ankara’s pursuit of UAE investment.
The talks failed to reach a deal due to disagreements over price, the sources said. Masdar said in a statement that it doesn’t comment on “market speculation.” Fiba didn’t respond to a request for comment.
In July the UAE committed a provisional $51 billion for Turkey deals including about $30 billion in energy. Since then the local benchmark stock index has risen 15.4%, driven by an influx of foreign inflows and domestic investors seeking a hedge against inflation.
The Fiba-Masdar talks, reported by Bloomberg in September, were just one part of a broader bilateral investment push.
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