UAE-based asset manager, Shuaa Capital, has sold its 20% share in Mirfa International Power and Water Company (Mipco), a utility based in Abu Dhabi.
The stake was sold to Japanese conglomerate, Sojitz Corporation, for an undisclosed sum.
According to Shuaa Capital, the divestment was in line with its planned exit strategy.
The asset manager made its first investment in Mipco in 2015 during the project’s development phase.
Other notable shareholders include Abu Dhabi National Energy and French low carbon energy firm, Engie, both of which will retain their respective 60% and 20% stakes in Mipco.
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