Sojitz completed the acquisition of a 20% stake in Mirfa International Power from SHUAA.

Sojitz, a company engaged in a wide range of businesses globally, including buying, selling, importing, and exporting goods, manufacturing and selling products, completed the acquisition of a 20% stake in Mirfa International Power, a provider of utility services, from SHUAA, a financial services firm. TAQA and Engie will remain shareholders in MIPCO. Financial terms were not disclosed. "With its experience in international power, Sojitz represents an ideal partner for MIPCO going forward, bringing operational expertise as a strategic investor. So, we are delighted to be able to divest our stake to Sojitz, in line with our planned exit horizon, having supported the development of the MIPCO plant which will deliver power and water security across the UAE," Fawad Tariq Khan, SHUAA Managing Director and Head of Investment Banking.