The Public Investment Fund acquires 15% of Aqua Power

Citizen – Riyadh

The Public Investment Fund and Aqua Power, the largest developer, owner and operator of power plants and desalination plants, announced the acquisition of a significant stake in Aqua Power, To Become A Direct Contributor To Aqua Power By 15.2% According To Reuters

The Public Investment Fund's Investment In Aqua Power Results In An Increase In The Company's Capital And Its Income Will Be Used To Support the company's growth strategy and its future investments

Mohamed Abu Nayan, Chief of M "I am pleased to welcome the Public Investment Fund as a major shareholder of Aqua Power after we have reached the investment process we received early 2017. "

The approval of this investment by the Fund underscores the role that we play in the Kingdom's economy and our successful international expansions, all geared towards achieving the Vision 2030 goals. Investment demonstrates the strong growth already achieved by Aqua Power and its strong financial balance sheet and its huge and real growth opportunities that the company can tap into domestic and international markets. The Public Investment Fund strengthens the company's high-level shareholding, including the General Retirement Corporation and the International Finance Corporation (IFC), a member of the World Bank Group.

The Saudi investment company Sanabel Investment, wholly owned by the Public Investment Fund, has invested 9.78% in Aqua Power, with the Fund's total equity in Aqua Power directly and indirectly 24.98% .

Selected