ACWA Power restructures debt and ownership in Turkish affiliate 

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RIYADH: Saudi Arabian energy giant ACWA Power has restructured debt and ownership at its Turkish subsidiary, converting outstanding loans into equity in an agreement with major creditors and minority shareholders. ACWA Guc, which operates a 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 ACWA Guc shares based on specific share ownership agreements and conversion terms, according to a filing with the Saudi Stock Exchange.

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