Ashmore Energy International (AEI) announced today an agreement
for the acquisition of an indirect 86.41% interest in Distribuidora de
Electricidad Del Sur, S.A. ("DelSur") from PPL Corporation (PPL). The
transaction is expected to close within 30 days.
DelSur serves approximately 291,000 customers in the central and
southern regions of El Salvador and operates a distribution network of
over 6,000 km. The company sold approximately 1,100 GWh in 2006.
DelSur was rated AAA (local scale) by Fitch Ratings.
AEI already has a significant presence in the Central American
energy market, owning power generation businesses totaling over 480 MW
installed capacity in Guatemala, Nicaragua and Dominican Republic, as
well as Elektra Noreste in Panama, a power distribution company that
delivers electricity to approximately 300,000 customers.
"This transaction reinforces AEI's position as one of the key
players in the Central American energy markets. We are very excited to
enter the market of El Salvador by acquiring a well-run and
strategically located asset," Roberto Figueroa, Vice President of AEI
and Country Manager for Guatemala, Nicaragua, Dominican Republic and
Panama, commented on the transaction. "AEI is committed to continue
offering high quality services to the communities served by DelSur and
will rely on DelSur's highly qualified workforce for that. We believe
that the combination of DelSur's management team and AEI's expertise
in power distribution and knowledge of the region will further
strengthen the Company's ability to grow in Central America."
AEI owns and operates essential energy infrastructure in emerging
markets. AEI manages interests in a group of 19 energy assets (27
assets including Promigas' subsidiaries) with operations in 14
countries and more than USD 2.5 billion in revenues (pro forma) and
9,800 employees. The Company serves approximately 8 million customers
worldwide by operating through three business segments: Natural Gas
Distribution, Transportation and Services; Power Distribution; and
Power Generation with approximately 37,000 km of gas and liquids
pipelines, 120,000 km of power transmission and distribution lines,
and a gross installed capacity of 1,675 MW. You can visit the AEI
website at www.ashmoreenergy.com.
