Pakistan loses $5b potential Qatari investment
Top Story
April 27, 2021
ISLAMABAD: Lacklustre bureaucratic approach and inconsistent policies have resulted in losing $5 billion committed investment from Qatar in RLNG power plants, refurbishment of airports and hotels here in Pakistan and now it has been diverted to Bangladesh.
Now Qatar’s Nebras Power Investment (QEWS QD) has acquired equity stake in Bangladesh’s Unique Meghnaghat Power. Also, the Nebras Power Investment Management has signed a sale and purchase agreement (SPA) with Unique Hotel and Resorts Limited (UHRL) to acquire a 24pc equity stake in Unique Meghnaghat Power Limited (UMPL) in Bangladesh.
This acquisition enhances the asset base of Nebras through fully contracted projects. Under this agreement, Nebras will acquire a 24pc stake, while UHRL and SFL will jointly control a 56pc equity share in Unique Meghnaghat Power Limited.
Victoria financial penalty for Crown Resorts Limited
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Nebras Power to acquire 24% stake in UMPL in Bangladesh
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Nebras Power to acquire 24% stake in UMPL in Bangladesh
thepeninsulaqatar.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thepeninsulaqatar.com Daily Mail and Mail on Sunday newspapers.
Olive Branches
Crown Resorts Limited (ticker: CWN) on Monday revealed that it had received a proposal from alternative asset specialist Oaktree Capital Management.
The basics of this proposal?
According to the announcement, Oaktree approached Crown with a funding commitment, of up to $3.0 billion, aimed at helping Crown buy back shares owned by Consolidated Press Holdings Limited (CPH).
The funding commitment, which would be facilitated through a structured instrument, would allow Crown on a selective basis to buy back some or all of the outstanding CWN stock held by CPH.
The proposal for the funding commitment is non-binding, preliminary, was unsolicited, and Crown’s Board has yet to form a view on its merits. The company further pointed out that any buybacks would have to be approved by the Crown Board.