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GDF Suez is planning to sell its 30 per cent stake in Bahrain’s Al Hidd power and water plant, in an attempt to meet a regulatory requirement, Reuters has reported.
Following the French utility firm’s recent acquisition of International Power, which owns a 40 per cent stake in the power and water plant, the company is expected to reduce its effective 70 per cent holding, with Japan’s Sumitomo Corp the – already holding a 30 per cent stake – the most likely buyer.
HSBC has been hired as an adviser on the sale, which is expected to be worth in the region on $200m.