XRG Completes Acquisition of Stake in Azerbaijan's Southern Gas Corridor Company
UAE-based company announces completion of deal with Azerbaijan's Ministry of Economy following fulfillment of conditions and receipt of regulatory approvals
XRG announced on Tuesday the completion of its acquisition of a stake in Southern Gas Corridor closed joint-stock company from the Ministry of Economy of the Republic of Azerbaijan.
According to the company, the transaction was completed following the fulfillment of all agreed preconditions and receipt of the standard regulatory approvals necessary to conclude this type of transaction.
The company did not disclose additional details regarding the size of the acquired stake or the financial value of the deal.
It is worth noting that the Southern Gas Corridor represents a strategic project for transporting natural gas from the Caspian Sea region to European markets via multiple countries, and is considered one of the important energy sector projects in the Caucasus region.
Sources
- "XRG" تستكمل الاستحواذ على حصة ملكية في "ممر الغاز الجنوبي" — Sky News Arabia — Business
EGazette summarizes reporting from multiple sources; follow the links for the originals.
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