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KSA hires HSBC to divide SEC into four power firms

: Thursday, May 08 - 2014 @ 00:42

HSBC Holdings has been hired by Saudi Arabia to advise on a potential breakup of state-owned utility Saudi Electricity Co (SEC) into four independent power-generation companies, Bloomberg has reported, citing four people with knowledge of the matter. Electricity & Cogeneration Regulatory Authority, the industry regulator, plans to offer as much as 25% in each of the companies to international investors, the people said.

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Thursday, May 8- 2014 @ 0:42 UAE local time (GMT+4) Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of Mediaquest FZ LLC.

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