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Mon 21 Nov 2016 11:46 AM

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Oman gov't to sell 49% stake in Muscat Electricity

Nama Holding, the holding company of power distribution firm, has appointed a transaction advisor to manage the process

Oman gov't to sell 49% stake in Muscat Electricity

Oman government is planning to sell a 49 percent stake in Muscat Electricity Distribution Company (MEDC) through a combination of private placement and public listing.

Nama Holding, the holding company of power distribution firm, has appointed a transaction advisor to manage the process, it said in a statement on Oman News Agency.

“The transaction advisor will carry out the studies and prepare the required documents for the process in addition to managing both the private and public placements of the transaction,” it added.

The company will be listed on the Muscat Securities Market.

MEDC is a closed joint stock company established as a result of the restructuring of the electricity and related water sector and is licensed to distribute/supply electricity in the governorate of Muscat.

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