Deals
China Southern Talks Over $4 Billion Taqa Stake Stall
- Chinese firm has been eyeing investment in Abu Dhabi utility
- Negotiations over Taqa stake have hit a snag on price
Photographer: Dan Kitwood/Getty Images
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China Southern Power Grid Co.’s talks to buy a roughly $4 billion stake in Abu Dhabi National Energy Co., the oil-rich emirate’s biggest utility, have stalled, according to people familiar with the matter.
The two parties were in advanced discussions earlier in the summer about a 10% holding in the utility, known as Taqa, before negotiations hit a snag over valuation, the people said. It’s unclear if or when talks could be revived, they said, asking not to be identified as the matter is private.