LONDON--Gasol PLC (GAS.LN), a gas to power company, said
Wednesday that it has entered into an agreement to acquire a 30%
stake in Malta Power & Gas Limited, the operator of the
LNG-to-power project in Malta.
MAIN FACTS:
-Acquired stake as a part of a consortium called ElectroGas
Malta.
-Malta Power & Gas is a special purpose company established
by Malta's state power utility, Enemalta, to own and operate the
LNG-to-power project, which was awarded to ElectroGas in late
2013.
-Remainder of Malta Power & Gas shares will be acquired by
the other members of the ElectroGas consortium as follows: SOCAR
Trading SA (20%), GEM Holdings Ltd (30%) and Siemens Projects
Ventures (20%).
-ElectroGas intends to rename Malta Power & Gas to
ElectroGas Malta Ltd., prior to closing the financing for the
project.
-Shares of Gasol at 0843 GMT flat at 16 pence, valuing the
company at GBP5 million.
-Write to Tapan Panchal at tapan.panchal@wsj.com
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