UPC's preferred shares amount to 16.41 percent of its total share capital
Mubadala GE Capital, a joint
venture between the Abu Dhabi investment fund and General
Electric, will buy a stake in Oman's
, the firm said on Monday.
United Power did not give financial details of the sale of
the preferred shares, which amount to 16.41 percent of its total
Through a subsidiary, Mubadala GE Capital bought the shares
from three United Power shareholders: National Trading Company,
WJ Towell and Zubair Corporation. The deal is slated to close on
"As a result of the transaction, the existing business of
the company shall not be affected," United Power said in a
statement to the Muscat bourse.
UPC has a capital of OR34.869m ($90.568m),
according to bourse data.