December 9 (SeeNews) - Turkish energy firm Global Enerji has signed a preliminary agreement with local conglomerate Akkok Sanayi Yatirim ve Gelistirme to transfer it a stake in a 270 megawatt (MW) thermal power project in southeastern Turkey's Sirnak province, Global Yatirim Holding [BIST:GLYHO] said.
Under the agreement, subject to satisfactory due diligence and regulatory approvals, Akkok will become a shareholder in the plant through acquiring 55% stakes in each of Global Enerji's units Gelis Madencilik and Galata Enerji, diversified holding company Global Yatirim Holding said in a statement on Friday.
You can subscribe to our M&A newsletter here
Global Enerji owns 85% stakes in both Gelis Madencilik and Galata Enerji.
The project envisages the construction of a plant consisting of two power units of 135 MW each. The plant will use as fuel locally-produces asphaltite.
Global Enerji is a wholly-owned unit of Global Yatirim Holding.