Cameroon Weighs CFA80 Billion Deal to Take Control of Two Key Power Plants

Cameroon Weighs CFA80 Billion Deal to Take Control of Two Key Power Plants Cameroon is negotiating an estimated CFA80 billion deal to acquire Globeleq’s majority stakes in two power producers that supply more than 20% of capacity on the country’s Southern Interconnected Grid, extending the government’s return to direct ownership of strategic electricity assets. According to information obtained by Business in Cameroon, discussions cover Globeleq’s interests in the companies that operate the Kribi and Dibamba thermal power plants. No formal offer has yet been submitted to the seller, however. A source close to the talks said negotiations were progressing well and…