A consortium led by the Arab Energy Fund (TAEF), the Riyadh-based multilateral financing institution, has acquired 100 percent of Metito Utilities, a Dubai-based investor, developer and operator of water and wastewater projects in emerging markets, it was announced on Wednesday.

TAEF, formerly known as APICORP, executed the transaction in partnership with Saudi Arabia’s Zamil Group Investment Company and the Metito Group’s Ghandour family, the Riyadh-based institution said in a press statement.

The statement didn’t disclose the financial details but said TAEF will inject further growth capital into the 25-year-old private utility company as part of its strategic vision to drive impactful investments that address critical infrastructure needs in water and wastewater management across the Middle East, Africa, and Asia.

Metito Utilities’ portfolio comprises 35 concessions spanning Saudi Arabia, the United Arab Emirates, Uzbekistan, Egypt, Rwanda, Serbia, and Qatar.

In May 2024, Zawya had reported that Abu Dhabi’s Alpha Dhabi Holding had scrapped plans to acquire a majority stake in Metito Holdings by acquiring the stakes owned by Mitsubishi Corporation, Mitsubishi Heavy Industries, and Gulf Capital.

(Editing by Anoop Menon) (anoop.menon@lseg.com)

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