TAQA wraps up AED 1.7 bn acquisition of SWS Holding: Abu Dhabi National Energy Company (TAQA) finalized its AED 1.7 bn acquisition of Sustainable Water Solutions Holding Company (SWS Holding), according to a press release (pdf).

The acquisition integrates Abu Dhabi Sustainable Water Solutions Company (Adsws), a subsidiary of SWS Holding, into TAQA's portfolio, adding to its portfolio of wastewater collection, treatment, and recycled water production in Abu Dhabi. ADSWS, established in 2005, is the only company licensed for wastewater collection, treatment, and recycled water production in Abu Dhabi.

The pitch: TAQA says the acquisition will boost its long-term earnings and add predictable cashflows while strengthening its asset base.

BACKGROUND- SWS Holding, along with Japan’s Marubeni Corporation, and France-based utility company Suez, inked a joint development agreement with Uzbekistan, earlier this month, to build a USD 1 BN wastewater treatment plant in Tashkent, aimed at treating 1.5 mn cubic meters of water treatment daily.

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