Apicorp Becomes Major TAQA Shareholder With 5.6% Stake

Law360, New York (October 8, 2013, 1:44 PM EDT) -- A development bank jointly owned by the Organization of Arab Petroleum Exporting Countries on Tuesday disclosed that it has scooped up a 5.6 percent interest in Abu Dhabi National Energy Co. PJSC, known as TAQA, making it the firm's third-largest investor.

The Arab Petroleum Investments Corp., known as Apicorp and backed substantially by the United Arab Emirates government, did not say how much it paid for the stake. The 11.2 million shares purchased by Apicorp were previously held by Arabian Pipes Co., the firms said....
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