ACWA Power International entered into an agreement to acquire 20% Interest in Shuweihat CMS International Power and 50% Interest in Shuweihat O&M Ltd. from Summit Global Management VIII B.V.

ACWA Power International entered into an agreement to acquire 20% Interest in Shuweihat CMS International Power and 50% Interest in Shuweihat O&M Ltd. from Summit Global Management VIII B.V. on January 27, 2014. The transaction is subject to closing conditions, approval of lenders and is expected to close in March 2014. IPA Energy + Water Economics performed the modeling exercise to help in evaluating cash flows to Sumitomo.

Merrill Lynch acted as financial advisor for Summit Global Management VIII B.V. Citigroup acted as financial advisor for ACWA Power International.