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Acwa Power, a leader in power generation and desalination, and Natixis Corporate & Investment Banking (Natixis CIB), a subsidiary of Groupe BPCE, have signed an agreement to collaborate on the advancement of Acwa Power s projects in the region.
Acwa Power, a leader in power generation and desalination, and Natixis Corporate & Investment Banking (Natixis CIB), a subsidiary of Groupe BPCE, have signed an agreement to collaborate on the advancement of Acwa Power s projects in the region.
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FILE PHOTO: The logo of Natixis is displayed in Hong Kong, China December 1, 2015. REUTERS/Bobby Yip
DUBAI (Reuters) - Natixis expects oil-rich Gulf states to accelerate privatisations, including by extracting revenue from oil assets, with Saudi Arabia and possibly Oman as likely candidates for similar deals next year, the French bank’s regional head said.
Lower oil prices as well as output cuts after the coronavirus crisis curbed demand for crude have weighed on Middle East oil exporters this year, leading them to explore new financing sources to cover wider funding needs.
Abu Dhabi’s oil giant, Abu Dhabi National Oil Company (ADNOC) raised $10 billion this year by selling a stake in its gas pipeline assets to a consortium of investors under a long-term lease agreement. Those investors raised debt through a bridge loan and bonds to back the acquisition.