ACWA Power restructures debt and ownership in Turkish affiliate 

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RIYADH: Saudi utility giant ACWA Power has restructured debt and ownership at its Turkish subsidiary, turning outstanding loans into equity following a deal with major creditors and minority shareholders. ACWA Guc, which operates the 950 megawatt combined cycle gas turbine power plant in Kirikkale, Turkey, is partially and indirectly owned by ACWA Power. The deal involves lenders converting their loans into shares of ACWA Guc based on specific shareholding agreements and conversion terms, according to a statement from the Saudi Stock Exchange.

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