Australian oil and fuel explorer Invictus Power Ltd. stated that it’ll promote a 19.9 p.c stake to a Qatari funding agency, which can assist fund considered one of its initiatives in Zimbabwe.
Al Mansour Holdings will buy the stake for A$37.8 million ($24.5 million), Invictus stated in a press release on Wednesday. The Qatari firm has pledged to offer as a lot as $500 million in future financing to develop the Cabora Bassa mission within the southern African nation, it stated.
Individually, Al Mansour – arrange by Qatari’s Sheikh Mansour bin Jabor bin Jassim Al Thani – and Invictus are forming a three way partnership to accumulate different oil and fuel belongings in Africa.
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