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Oman puts partial privatisation of power distribution firm on hold

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Nama Group Chairman says project put on hold to study and explore options, including possible restructuring and merger of sector firms

The proposed partial privatisation of Oman’s power distribution provider, Muscat Electricity Distribution Company (MEDC), is currently on hold pending a review of options for the broader restructuring of the country’s distribution companies, according to a local media report.

The decision to hold the intended privatisation came from the Authority for Public Services Regulation, Hamdan Al Shaqsi, chairman of the board of directors of Nama Group, the Oman Daily Observer reported.

“Based on a recommendation from APSR, the project was placed on hold to study and explore options, including a possible restructuring and merger of sector companies,” he said.

As part of Nama Group’s privatisation strategy, up to 70 percent of its equity in MEDC was offered for investment, effectively granting administrative and operational control to the strategic investor.

The balance of 30 percent was proposed to be offered through an initial public offering (IPO) on the Muscat Stock Exchange (MSX), the newspaper reported.

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