The Abu Dhabi National Energy Company (Taqa) has announced that its wholly owned subsidiary, Taqa Energy, has reached an agreement with Netherlands based Life Sciences and Materials Sciences company Royal DSM N.V., to purchase 100% of the share capital of its wholly owned subsidiary DSM Energy.
The purchase takes the value of oil and gas assets Taqa has accumulated in the North Sea to more than $2 billion. The company is one of the vehicles Abu Dhabi uses to invest oil money, and is 75 percent owned by the emirate's government. See Reuters report here.
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