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Energy Investors Funds Acquires Hess Corporation's 50 Percent Equity Stake in GE-Powered Newark Energy Center in New Jersey with Financing from Crédit Agricole, GE and MUFG

Jun 20, 2014 - Business Wire

Energy Investors Funds ("EIF"), an energy-focused private equity firm, announced today that two EIF-managed funds have indirectly acquired an additional 50 percent ownership stake in the Newark Energy Center from Hess Corporation (NYSE: HES) using a $590 million loan from Crédit Agricole Corporate and Investment Bank, GE unit (NYSE: GE) GE Energy Financial Services and Mitsubishi UFJ Financial Group (MUFG). EIF-NEC, LLC, an entity jointly owned by the two EIF-managed funds, will use the loan to...