ACWA Power restructures debt and ownership in Turkish affiliate 

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RIYADH: Saudi utility giant ACWA Power has restructured its debt and equity stake in its Turkish subsidiary by converting outstanding loans into equity, following an agreement with its major lenders and minority shareholders. ACWA Guc, which operates a 950MW combined cycle gas turbine power plant in Kirikkale, Turkey, is partly and indirectly owned by ACWA Power. The agreement involves the lenders converting their loans into shares of ACWA Guc, pursuant to specific shareholding agreements and conversion conditions, according to a statement on the Saudi Stock Exchange.

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