UAE talks to buy shares in Turkish company failed

As Turkey sought investments from the United Arab Emirates (UAE) and other Gulf countries, a meeting in this context ended without an agreement.

According to Bloomberg, negotiations over the purchase of shares in Fiba Renewable Energy by the UAE-based renewable energy giant Masdar were unsuccessful as no agreement was reached on the price.

$51 BILLION DEAL

In July, the United Arab Emirates pledged $51 billion to Turkey, including $30 billion in energy deals.

Since that period, the Borsa Istanbul 100 index has risen 15.4 percent as foreign investors increased their purchases and domestic investors demanded protection against inflation.

Energy and Natural Resources Minister Alparslan Bayraktar said in a statement last month that the development of wind power plants in Turkey and the production of hydrogen from wind energy were among the projects discussed with Turkey’s wealth fund. Abu Dhabi ADQ and some other companies in the United Arab Emirates.

Bayraktar stated that Saudi Arabia is also interested in Turkey’s hydrogen potential.