QEWC announces completion of acquisition of 40% share capital in Nebras Power

QNADohaQatar Electricity and Water Company (QEWC) said that Raslaffan Operating Company, a wholly-owned subsidiary of QEWC, has completed the purchase of 40 percent of the share capital of Nebras Power (Nebras) from Qatar Holding. QEWC owns the remaining 60 percent of the share capital of Nebras.In a statement on Thursday published on the Qatar Stock Exchange website, QEWC said that the completion of the purchase process came as a continuation of the press release issued by the company on January 4.On January 4, QEWC announced that Raslaffan Operating Company, a wholly-owned subsidiary of QEWC, has completed the purchase of 40 percent of the share capital of Nebras Power from Qatar Holding for a purchase price of $530 million.At the time, the company confirmed that the completion of the deal is subject to several preconditions in accordance with the share sale and purchase agreement, which include regulatory approvals and notifications in some foreign countries where Nebras is present.In March, the QEWC General Assembly approved the share sale and purchase agreement between Raslaffan Operating Company and Qatar Holding to purchase 40 percent of the capital of Nebras.