ACWA Power restructures debt and ownership in Turkish affiliate 

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RIYADH: Saudi utility giant ACWA Power has restructured the debt and ownership of its Turkish affiliate, converting its outstanding loans into equity, following an agreement with its major lenders and minority shareholders. ACWA Guc, which operates a 950-megawatt combined-cycle gas turbine power plant in Kirikkale, Turkey, is partly and indirectly owned by ACWA Power. The deal involves the lenders converting the loans into shares in ACWA Guc, subject to certain shareholding agreements and conversion terms, according to a statement on the Saudi Stock Exchange.

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