Hassana Investment Company signed a Share Purchase Agreement to acquire a 30% stake in Rabigh Arabian Water & Electricity Company, Ltd from ACWA Power Company for approximately SAR 840 million.

Hassana Investment Company signed a Share Purchase Agreement to acquire a 30% stake in Rabigh Arabian Water & Electricity Company, Ltd from ACWA Power Company (SASE:2082) for approximately SAR 840 million on June 3, 2024. The sale is part of ACWA Power?s capital recycling strategy and ACWA will use proceeds for general corporate purposes. Rabigh Arabian Water & Electricity has reported revenues of SAR 1,164.720983 million, total assets of SAR 6,335.505658 million, operating profit of SAR 595.731803 million, and net profit of SAR 358.633073 million as of December 31, 2023.

Waleed Rasromani, Claire Neil and Jack Allen-Fitt of Linklaters acted as legal advisor for Hassana Investment Company