Babu Lao
JF-Expert Member
- Nov 2, 2010
- 2,043
- 179
A United States-based company, CPS Energy, may take over controversial Dowans Holdings (Tanzania) Limited, which expects to easily ‘fetch' $62 million(Sh95 billion) from Tanzanian taxpayers, The Guardian on Sunday has learnt.
If it is sealed, the deal would totally conceal the real owners of the controversial power generating firm, which was awarded billions of shillings by the International Chamber of Commerce last year.
According to impeccable sources, CPS energy is expected to acquire Dowans Holding Tanzania Ltd, in a deal estimated at $60 million.
A source close to the negotiating team told The Guardian on Sunday over the weekend that ‘very soon' there will be no Dowans Holding Tanzania Ltd thanks to the new inheritor, a Texas-based power generating firm.
Speaking under conditions of strict anonymity, the source said, "The two teams are in the final stages of sealing the acquisition...the deal may be ready before March, this year."
"The very individual who brought Richmond and Dowans to Tanzania is the mastermind of the takeover…He believes the deal will go through in the next few months, " our source said.
In what seemed to be another dramatic movement, after the acquisition, CPS Energy through its local agent who is the mastermind of the deal would seek an opportunity to generate and supply power to Tanzania Electric Supply Company (Tanesco).
Dowans Holdings Tanzania Ltd is currently at the centre of the heated debate following the judgment by International Chamber of Commerce last year, which among other things awarded a compensation amounting to $62 million to a controversial power generating firm.
:nono:
If it is sealed, the deal would totally conceal the real owners of the controversial power generating firm, which was awarded billions of shillings by the International Chamber of Commerce last year.
According to impeccable sources, CPS energy is expected to acquire Dowans Holding Tanzania Ltd, in a deal estimated at $60 million.
A source close to the negotiating team told The Guardian on Sunday over the weekend that ‘very soon' there will be no Dowans Holding Tanzania Ltd thanks to the new inheritor, a Texas-based power generating firm.
Speaking under conditions of strict anonymity, the source said, "The two teams are in the final stages of sealing the acquisition...the deal may be ready before March, this year."
"The very individual who brought Richmond and Dowans to Tanzania is the mastermind of the takeover…He believes the deal will go through in the next few months, " our source said.
In what seemed to be another dramatic movement, after the acquisition, CPS Energy through its local agent who is the mastermind of the deal would seek an opportunity to generate and supply power to Tanzania Electric Supply Company (Tanesco).
Dowans Holdings Tanzania Ltd is currently at the centre of the heated debate following the judgment by International Chamber of Commerce last year, which among other things awarded a compensation amounting to $62 million to a controversial power generating firm.
:nono: