Saudi Arabia’s energy firm Acwa Power has acquired Turkish energy firm Ventis Enerji for TL25.3 million ($9.1 million), a report said.
The Turkish company is run by Ahmet Münir Gül, the oldest son of former President Abdullah Gül, according to the Saudi Gazette report, which cited Cumhuriyet.
Ventis Enerji was established only two years ago with TL50,000 in capital, the report added.
Investments in Ventis increased steadily over the past two years, leading to the TL25 million purchase by Acwa Power, which has been active in energy projects in Turkey for six years.
Source: Trade Arabia