ABU DHABI, April 4 Abu Dhabi Water & Electricity
Authority (Adwea) has raised its stake in Abu Dhabi National
Energy Co (Taqa) to 74 percent from 52.38 percent, a
Taqa spokesman said.
As the founder shareholder of energy firm Taqa, Adwea bought
the 21.67 percent shareholding held by the Fund for the support
of Farm Owners.
"Adwea has always been an active shareholder and this is a
positive consolidation of its shareholding," a spokesman of Taqa
told Reuters on Tuesday.
Taqa's share price soared on Sunday and Monday on investor
hopes that the support from Abu Dhabi could help the company
turn a corner after it reported a big loss in its last financial
(Reporting by Stanley Carvalho, editing by Saeed Azhar)