Alcazar Energy considers offloading Egypt, Jordan assets in potential USD 500 mn sale
M&A WATCH- Dubai’s Alcazar Energy is considering offloading its Egypt and Jordan assets in a sale that could reel in at least USD 500 mn, Bloomberg reports, citing sources familiar with the matter. The renewable energy firm is currently in talks with banks over the potential transaction, which will likely receive interest from MENA-focused PE firms and energy companies, the sources said. No final decision has been made as of yet, and Alcazar could ultimately decide to scrap the plan, the business information service said.
Background: The company completed last year four solar power plants in Aswan’s Benban park with a combined production capacity of 200 MW, and was previously reported to be eyeing USD 500 mn-worth of wind projects in Egypt.