Abu Dhabi – Mubasher: China Southern Power Grid Co, a Chinese state-owned company, is holding talks to buy about a 10% stake in Abu Dhabi National Energy Company (TAQA), sources told Bloomberg.

The sources remarked that the Chinese company is discussing with banks the financing issues for the potential purchase.

A 10% stake could be valued at around $4.3 billion based on its current share price, according to Bloomberg.

If the transaction is completed, it would be the biggest overseas acquisition by a Chinese company this year.

The sources confirmed that the negotiations are still being conducted; hence, there’s no certainty that China Southern Power Grid will enter into an agreement, and another buyer could submit an offer for a stake in the company.

Noteworthy to mention, in April, sources told Bloomberg that Abu Dhabi is considering selling a 10% stake in TAQA, as part of its objective to attract more international investments to its huge assets.