Islamic Development Fund Sells Off Jordan Power Plant Stake

Law360, New York (February 8, 2012, 3:39 PM EST) -- The Bahraini arm of international private equity fund EMP Global said Wednesday that it has sold a 60 percent stake in a Jordanian power plant as part of a plan to wind down a decade-old $730 million Islamic infrastructure development fund.

The state-owned Qatar Electricity & Water Co. purchased from EMP Bahrain's IDB Infrastructure Fund a 39 percent stake in AES Oasis Ltd., whose sole asset was the 60 percent stake in the AES Jordan plant, according to EMP.

The Washington, D.C.-based private equity firm did...
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