BDA Partners is pleased to announce that its clients, First Energy Bank, Bahrain Islamic Bank, Ibdar Capital and Bunyah GCC Infrastructure Fund, have successfully sold their respective ownership positions, totalling 20% equity interest, in Bahrain\u2019s main power and water supplier, the Al Dur Power and Water Company (\u201cAl Dur\u201d). The acquirer is Kyuden International Corporation (\u201cKIC\u201d), the overseas business arm of Kyushu Electric Power Company, one of Japan\u2019s leading power companies. BDA was the exclusive financial advisor to the selling shareholders. Terms were not disclosed.<\/p>\n\n\n\n
Mohammed Al Khan, Vice President, First Energy Bank, said: \u201cWe are very pleased to welcome one of the largest Japanese energy groups to the Kingdom of Bahrain. This is a landmark transaction for us as key investors in Al Dur since its inception to be the leading power plant and key strategic asset of Bahrain. We are very confident that KIC will be the ideal partner for Al Dur. This is one of the most significant cross-border transactions in Bahrain and reinforces the Kingdom’s attractiveness for foreign investors.\u201d<\/p>\n\n\n\n
Nabeel Kazerooni of Arqaam Capital Limited, the Investment Manager of the Bunyah GCC Infrastructure Fund, commented: \u201cI would like to express my gratitude to all of the people involved in this complex cross-border transaction as well as to the Government of Bahrain. As an investment manager, we are confident that KIC will bring additional value to the Al Dur facility and to the overall utility sector in Bahrain. This milestone also marks a significant distribution event for Bunyah\u2019s investors.\u201d <\/p>\n\n\n\n
Mark Webster, Partner and Head of Services, BDA Partners, said: \u201cWe are delighted to have secured a successful outcome for our clients in this high profile regional infrastructure services project. Despite the challenges of the pandemic, BDA executed a global process to secure the right counterparty and delivered a closed transaction. We\u2019re happy to help connect Japan and Bahrain more closely. As the new shareholder, KIC clearly has the attributes to be a valuable strategic partner to Al Dur and its owners in the years ahead. We wish them well.\u201d<\/p>\n\n\n\n
Ahmed Al Balooshi, Senior Advisor \u2013 Middle East, BDA Partners, remarked: \u201cThis is a notable transaction – for BDA, our clients and also the Kingdom of Bahrain. It demonstrates global interest in strategic assets both here and in the wider Gulf region. We expect more investors, particularly Asian infrastructure players, to consider the Gulf as an attractive destination for their international diversification strategy. We look forward to BDA facilitating more transactions like this in future.\u201d <\/p>\n","protected":false},"featured_media":11573,"template":"","class_list":["post-11516","transaction","type-transaction","status-publish","has-post-thumbnail","hentry"],"acf":[],"yoast_head":"\n