Doha, February 26 (QNA) - Nebras Energy Q.P.S.C. announced the successful finalization of its negotiations with ENGIE S.A. for the acquisition, through its wholly owned subsidiary Ras Laffan Operating Company, of the equity interests held by ENGIE S.A.'s subsidiaries in Qatar Power and Ras Girtas Power.

In a statement today, Nebras Power explained that the negotiations resulted in the parties agreeing to enter a Sale and Purchase Agreement between Ras Laffan Operating Company (ROC) and International Power (Ras Laffan B) Limited (IPL), a wholly owned subsidiary of ENGIE, pursuant to which IPL has agreed to sell, and ROC has agreed to purchase, 40% of the entire issued share capital of Qatar Power.

A Sale and Purchase Agreement between ROC and Kahrabel FZE (Kahrabel), a wholly owned subsidiary of ENGIE, pursuant to which Kahrabel has agreed to sell, and ROC has agreed to purchase 50% of the entire issued share capital of RLC Power Holding Company Limited., representing 40% of the share capital of Ras Girtas Power Company.

Upon completion, Nebras Energy will increase its ownership from 55% to 95% in Qatar Power, and from 45% to 65% in Ras Girtas Power.

This remains subject to the satisfaction of customary conditions precedent and relevant laws, including obtaining all necessary approvals from the relevant regulatory authorities. (QNA)