Tuesday, January 21, 2020

Karuma group prepares for SN Power to become main shareholder

The investor group behind the Karuma hydro power project, NORPAK, has prepared for SN Power to become the majority owner in the project.

A letter of intent which would give SN Power at least 51 per cent of the shares in the group was prepared last spring. However, the deal was pending on World Bank support to the project and has not materialised.

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